Gwangju City to Offer Purchase Subsidies for 2,279 Electric Vehicles

Up to 7.54 Million Won for Passenger Cars,
13.65 Million Won for Cargo Trucks,
65 Million Won for Buses
Up to an Additional 1.3 Million Won for Converting Internal Combustion Vehicles
Applications Open from the 30th

Gwangju Metropolitan City will provide purchase subsidies for 2,279 electric vehicles this year. The city will offer up to 7.54 million won for electric passenger cars, up to 13.65 million won for electric cargo trucks, and up to 65 million won for electric buses. Additional support will also be provided for those converting old internal combustion vehicles to electric vehicles. Applications open on January 30.

On January 29, Gwangju City announced that it will implement an electric vehicle purchase subsidy program to reduce fine dust and achieve carbon neutrality. The total number of vehicles eligible for support is 2,279, including 1,930 electric passenger cars, 330 electric cargo trucks, and 19 electric buses.

Demonstration of Ioniq 5 robotaxi charging using an electric vehicle automatic charging robot. Photo is unrelated to the article content. Photo by The Asia Business Daily DB

The subsidy amount for each vehicle type, combining national and local funding, is up to 7.54 million won for mid- to large-sized electric passenger cars, up to 13.65 million won for small electric cargo trucks, and up to 65 million won for mid-sized electric buses. The actual subsidy amount will vary depending on vehicle performance and size.

To promote fairness in the distribution of electric vehicles, Gwangju City will allocate 10% of the total quota to priority recipients and an additional 5% to transportation workers such as taxi and delivery drivers. Priority recipients include people with disabilities, low-income households, families with multiple children, and first-time vehicle buyers.

This year, additional conversion subsidies will be provided to individuals who replace internal combustion vehicles that have been in use for more than three years with electric vehicles. The conversion subsidy offers up to 1 million won in national funding and up to 300,000 won in city funding for those who switch to electric vehicles through sale or scrapping of their old vehicles. However, transfers or sales within families are excluded from eligibility.

Low-income households and small business owners will receive an additional 20-30% of the national subsidy, farmers will receive an additional 10%, and young adults (ages 19 to 34) will receive an additional 20%. Electric taxis will receive an extra 2.5 million won, delivery vehicles will receive an additional 10% of the national subsidy, and families with multiple children can receive up to an additional 3 million won from the national subsidy depending on the number of children.

Eligibility is limited to citizens aged 18 or older who have resided in Gwangju for at least 30 days as of the application date, as well as businesses and organizations with offices in Gwangju. The previous requirement of at least 90 days of residence in Gwangju has been relaxed to 30 days.

Citizens wishing to purchase an electric vehicle must first sign a purchase contract with a manufacturer or importer, after which the manufacturer or importer will apply for the subsidy from Gwangju City. Recipients will be selected in the order of vehicle delivery and registration. The subsidy will be paid directly by Gwangju City to the manufacturer or importer after the vehicle has been delivered and registered. Buyers are only responsible for the vehicle price minus the subsidy.

Gwangju City will continue to expand charging infrastructure alongside the distribution of electric vehicles to improve air quality and establish a sustainable transportation system. Detailed information about the electric vehicle subsidy program and eligible vehicle models can be found on the Gwangju City website and the Zero Emission Vehicle Integrated Website.

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