Toll Discounts for Electric, Hydrogen, and Nighttime Freight Vehicles Extended Until 2024
Amendment to the Enforcement Decree of the Paid Road Act Passed at the Cabinet Meeting
[Asia Economy Reporter Cha Wanyong] The discount system for tolls on electric and hydrogen vehicles on highways, as well as the late-night toll discount for freight vehicles, which was scheduled to end this December, will be extended for two years until December 2024.
The Ministry of Land, Infrastructure and Transport announced on the 18th that the amendment to the Enforcement Decree of the Toll Road Act containing this content has passed the Cabinet meeting and will be promulgated and implemented immediately after being published in the official gazette.
Since September 2017, the government has been providing a 50% discount on highway tolls for electric and hydrogen vehicles to reduce fine dust emissions and expand the distribution of eco-friendly vehicles. Considering the speed of eco-friendly vehicle adoption, the discount amount resulting from this extension is expected to greatly exceed 21.9 billion KRW in 2021.
The late-night toll discount system for freight vehicles was first introduced in 2000 to support small-scale freight vehicle owners and encourage the dispersion of freight traffic during late-night hours. It offers a 30-50% discount on tolls for commercial freight vehicles and construction machinery using highways between 9 PM and 6 AM the following day. With this extension, an annual toll discount of approximately 112.5 billion KRW, similar to the previous year, is expected. Especially amid recent rapid inflation and economic difficulties, this is predicted to significantly help reduce transportation costs for the freight industry.
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Lee Yong-wook, Director of the Road Bureau at the Ministry of Land, Infrastructure and Transport, stated, “This toll discount extension is expected to reduce logistics costs for the freight transport industry, expand the adoption of eco-friendly vehicles, and contribute to greenhouse gas reduction and the future transition to a carbon-neutral industrial ecosystem.”
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