Yongin City to Provide 56.8 Billion KRW in Eco-Friendly Vehicle Subsidies This Year

Yongin City will provide 56.8 billion KRW in subsidies for eco-friendly vehicle purchases this year.

[Asia Economy (Yongin) = Reporter Lee Young-gyu] Yongin City in Gyeonggi Province will provide 56.8 billion KRW this year to expand the supply of eco-friendly vehicles.

On the 23rd, Yongin City announced that it will provide purchase subsidies for 3,665 eco-friendly vehicles, including electric and hydrogen vehicles such as passenger cars, cargo trucks, and buses.

For electric passenger cars, 250 units will be supported for priority groups such as vulnerable populations, multi-child families, and those purchasing eco-friendly cars after scrapping old diesel vehicles; 250 units for taxis; and 2,000 units for corporations or individuals. The subsidy is up to 10.3 million KRW for general passenger cars (mid-large and compact) and 5.5 million KRW for ultra-compact cars.

For electric cargo trucks, 27 units are allocated to priority groups, 54 units to delivery service providers, 27 units to small and medium-sized enterprises, and 162 units to corporations or individuals. One unit per household or corporation is supported. Small cargo trucks, excluding special vehicles, receive up to 19 million KRW, and ultra-compact trucks receive 8.7 million KRW.

Electric buses will be primarily supplied to local transportation companies without priority allocation, and any remaining units will be supported for individuals or corporations in the second half of the year. Approximately 166 units are allocated, with up to 112 million KRW for large buses and up to 80 million KRW for medium buses. Individuals can receive one unit per household, while corporations have no limit on support.

For hydrogen vehicles, 32.5 million KRW will be supported for 143 units. Fifteen units will be supplied to priority groups, and 128 units to corporations or individuals. The supplied model is Hyundai Motor Company's Nexo. Individuals can apply for one unit per household, and corporations or organizations can apply for up to five units.

Applications for electric passenger cars (from the 20th), cargo trucks (from the 21st), and hydrogen vehicles (from the 22nd) have begun. Applications for electric buses will be accepted starting on the 27th.

Applicants must be individuals aged 18 or older who have resided in the city for more than three months, or corporations and organizations with business locations in the city. The vehicle’s initial registration must list Yongin City as the place of use.

A city official stated, "We have expanded support for eco-friendly vehicles to take the lead in improving air quality and practicing carbon neutrality," adding, "We will continue to prepare various policies befitting the status of an eco-friendly ecological city."

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