Busan City to Promote Electric Vehicle Purchase Subsidy Program in the First Half of This Year

Significant Expansion of Support Scale Compared to First Half of Last Year: Support for Purchase of 4,880 Vehicles

Up to 9 Million KRW per Passenger Car · Up to 14.5 Million KRW per Truck

Busan City is promoting the electric vehicle purchase subsidy program in the first half of this year to achieve carbon neutrality and respond to global warming.

The 'Electric Vehicle Purchase Subsidy Program' provides subsidies when purchasing electric vehicles and is implemented twice a year, in the first and second halves. For the first half of this year, the subsidy is up to 9 million KRW per passenger car and up to 14.5 million KRW per cargo vehicle.

Subsidies are provided differentially based on the recommended retail price of the purchased vehicle.

The scale of electric vehicle purchase subsidies for the first half of this year has significantly increased to 57.5 billion KRW compared to the first half of last year, supporting the purchase of a total of 4,880 electric vehicles (2,940 passenger cars, 1,800 cargo vehicles, and 140 buses).

This is a substantial increase in the number of supported vehicles compared to 3,424 electric vehicles supported in the first half of last year.

Purchase subsidy amount (unit: 10,000 KRW).

In particular, the number of passenger cars supported has greatly increased to 2,940 this year compared to 1,883 in the first half of last year. Cargo vehicle support also expanded from 1,529 in the first half of last year to 1,800.

Applicants must be citizens aged 18 or older with a residence in Busan City for at least three months prior to the purchase support application date, as well as corporations, public institutions, and local public enterprises.

The application method involves the purchaser buying an electric vehicle, after which the manufacturer and dealership apply for the subsidy for the eligible vehicle through the 'Ministry of Environment Low Emission Vehicle Purchase Subsidy System.'

Except for priority allocations such as vulnerable groups (persons with disabilities, low-income households), war veterans and independence activists, small business owners, families with multiple children, first-time buyers, and purchasers of vehicles with significant fine dust reduction effects (such as taxis, transport business vehicles, and replacement of old diesel vehicles with electric vehicles), subsidies are provided in the order of vehicle delivery and registration regardless of application order.

For detailed information on eligibility conditions, additional benefits, and application periods, please refer to the announcement on the Busan City website's public notice section.

In particular, when purchasing a vehicle, applicants should carefully review the impact on eligibility for basic pension, disability pension, rental housing, and other benefits, as vehicle price may affect qualification for these programs before applying for the subsidy.

Lee Byung-seok, Director of the Environmental Policy Office of Busan City, stated, “As our city was certified as an 'Outstanding Institution for Electric Vehicle Distribution' by the Ministry of Environment last year, we will strive even harder this year to expand the distribution of electric vehicles and create a clear, fine dust-free, and pleasant Busan.”

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