Partnered with Private Companies... Gyeongju City to Expand Over 200 Electric Vehicle Fast Charging Stations by 2024

Daeyeong Chaebi Invests 15 Billion KRW in Electric Vehicle Charging Facility Installation, Management, and Operation

Gyeongju City has signed a business agreement on the "Electric Vehicle Charging Infrastructure Construction Private Investment Project" with an electric vehicle charger distribution management company.

[Asia Economy Yeongnam Reporting Headquarters Reporter Yeo Jong-gu] Gyeongju City, Gyeongbuk Province, has signed a business agreement with an electric vehicle charger distribution management company to expand electric vehicle charging infrastructure.

On the 4th, Gyeongju City announced that it had signed a 'Private Investment Project Business Agreement for the Construction of Electric Vehicle Charging Infrastructure' with Daeyeong Chaebi.

This agreement is aimed at proactively implementing the government's Carbon Neutral 2050 project and is the first basic local government to promote a private investment project to distribute more than 200 rapid charging facilities, including electric vehicle charging stations, by December 2024.

According to this agreement, Daeyeong Chaebi will invest 15 billion KRW, and Gyeongju City will actively support administrative matters within the scope permitted by law.

Both parties also mutually agreed to apply charging fees at least 10% lower than the amounts announced by the Ministry of Environment until 2030.

Through this, Gyeongju City expects it will help alleviate the inconvenience of electric vehicle charging for industrial complex visitors and nearby residents using electric vehicles.

Currently, the number of rapid electric vehicle charging facilities remains at about 139 units across 85 locations, and a significant improvement is anticipated.

Mayor Ju Nak-young of Gyeongju said, “This has created an opportunity for the electric vehicle charging business to transition into a full-fledged private-led project,” and added, “We expect that an eco-friendly vehicle-related industrial ecosystem will be established centered on Gyeongju, contributing to the revitalization of the local economy.”

As of May this year, out of 148,828 registered vehicles in Gyeongju City, eco-friendly vehicles number 6,043 (4,433 hybrids, 1,588 electric vehicles, and 22 hydrogen vehicles), accounting for 4.06% of all registered vehicles.

It is expected to increase to 30,000 vehicles, about 20% of all registered vehicles, by 2030.

This content was produced with the assistance of AI translation services.