Gochang-gun Provides Early Retirement Subsidies for Old Diesel Vehicles

[Gochang=Asia Economy Honam Reporting Headquarters Reporter Kim Jae-gil] On the 28th, Gochang-gun, Jeonbuk announced that it will promote a subsidy support project for early scrapping of old diesel vehicles in the second half of the year to reduce air pollutants such as fine dust and nitrogen oxides emitted from old diesel vehicles.

The support targets are diesel vehicles with emission grade 5 that are operable or road-use type 3 construction machinery manufactured under emission standards applied before 2005.

However, as of the announcement date, the vehicle must have been continuously registered in Gochang-gun for more than six months and owned for more than six months, and must have passed the vehicle function inspection to be operable.

The subsidy amount is paid based on the quarterly vehicle standard value calculated by the Insurance Development Institute according to the vehicle type and model year.

For passenger cars with a seating capacity of five or fewer, the subsidy is 50% of the vehicle standard value, with an additional 50% support when purchasing a new car excluding diesel vehicles. For other vehicles, the subsidy is 70% of the vehicle standard value, with an additional 30% support when purchasing a new car excluding diesel vehicles. Vehicles under 3.5 tons gross weight can receive up to 3 million KRW.

However, for vehicles under 3.5 tons gross weight that cannot be equipped with emission reduction devices or are used for livelihood, business, or owned by small business owners, the early scrapping subsidy cap is expanded from 3 million KRW to 6 million KRW.

The early scrapping support project for old diesel vehicles is open for applications from the 27th of last month until the 19th of next month. Applications can be submitted in person at the town or township office where the vehicle is registered, with a copy of the vehicle registration and ID card.

A county official said, “Final selected applicants must submit related documents after receiving a normal operation judgment at a designated vehicle inspection agency before scrapping the vehicle to receive the subsidy. If scrapping is done without inspection, the subsidy cannot be paid, so please be careful.”

Gochang=Asia Economy Honam Reporting Headquarters Reporter Kim Jae-gil baekok@asiae.co.kr

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