Seongnam City Provides 60.8 Billion KRW Subsidy for Electric and Other Eco-Friendly Vehicles

Seongnam City Hall

Seongnam City in Gyeonggi Province will provide subsidies to buyers of 4,637 eco-friendly vehicles, including electric and hydrogen cars, until the end of this year.

On the 30th, Seongnam City announced that it has secured a total project budget of 60.8 billion KRW, including 38.6 billion KRW from the national government, 2.4 billion KRW from the provincial government, and 19.8 billion KRW from the city.

Subsidies will be given for 4,385 electric vehicles. The subsidy amounts by vehicle type are as follows: ▲3,604 electric passenger cars, up to 10.3 million KRW ▲367 electric cargo vehicles, up to 18.9 million KRW (small size) ▲114 electric buses, up to 112 million KRW ▲300 electric two-wheelers, up to 3 million KRW.

An additional 6 million KRW subsidy is provided if an electric passenger car is purchased for use as a taxi.

Support for hydrogen vehicles covers 252 units. The subsidy amounts by vehicle type are: ▲240 hydrogen passenger cars, 35 million KRW each ▲2 hydrogen low-floor buses, 300 million KRW each ▲10 hydrogen high-floor buses (step buses), 350 million KRW each.

Eligible recipients for electric and hydrogen vehicle purchase subsidies are citizens, organizations, and corporations who have resided in Seongnam City for more than three months as of the application date.

Applicants should visit the sales location of the desired vehicle model, complete the application form and contract, and apply through the respective dealership.

All procedures are conducted through the Ministry of Environment’s Low Emission Vehicle Purchase Subsidy Support System. Subsidies are provided in the order of vehicle delivery and registration after application submission.

Buyers who receive subsidies for electric and hydrogen vehicles must comply with a mandatory operation period of two years. If the vehicle is sold during this period, the remaining period obligation is transferred to the buyer, and if the vehicle registration is canceled, the subsidy amount will be reclaimed proportionally based on the period.

Seongnam City has posted the related announcement on the city’s website (News section).

Previously, from February to August, Seongnam City provided subsidies totaling 15.3 billion KRW to buyers of 1,005 electric and hydrogen vehicles over seven months.

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