Pohang City Accelerates Electric Vehicle Distribution and Expands Card Fee Support for Small Businesses

Early Distribution of 190 Electric Vehicles and Expanded Conversion Subsidies
Up to 400,000 Won in Card Transaction Fee Support for Small Business Owners

Pohang City has begun implementing two key policies ahead of schedule—expansion of electric vehicle distribution for carbon neutrality and support for small business owners facing economic hardship—to reinvigorate the local economy.

The city plans to quickly allocate related budgets and strengthen customized benefits for each group, aiming to enhance citizens’ satisfaction and engagement.

Pohang City is advancing the electric vehicle distribution project, which was originally scheduled for the second half of the year, and will invest a total budget of 3.1 billion Korean won. Provided by Pohang City

The city is advancing its electric vehicle distribution project, originally scheduled for the second half of the year, and will inject a total budget of 3.1 billion won.

Through this project, Pohang will initially distribute 190 electric vehicles, including 150 electric passenger cars and 40 electric trucks.

Applications can be submitted via the Zero-Emission Vehicle Integrated Portal starting May 8. Eligible applicants include individuals or corporations who have been residents of Pohang for at least 90 days.

Notably, from this year, those who replace an internal combustion engine vehicle owned for more than three years with an electric vehicle will receive an additional conversion subsidy of up to 1.3 million won.

Additionally, first-time young buyers and lower-income households will receive extra support as a certain percentage of the national subsidy, further lowering the barrier to purchase.

To support small business owners struggling due to high inflation and reduced consumption, a card transaction fee support program is also set to begin as early as the end of April.

The program targets small business owners with annual sales of 300 million won or less in the previous year. Each business can receive differentiated support ranging from a minimum of 50,000 won to a maximum of 400,000 won.

Applications can be made via the online website or through the Eastern Branch of the Gyeongbuk Economic Promotion Agency.

In addition, the city plans to sequentially expand various tailored policies to support small business owners, such as special guarantee support and online sales channel support, to help stabilize their operations.

A Pohang City official emphasized that expanding electric vehicle distribution is key to becoming a carbon-neutral city, and that supporting card transaction fees is a practical measure to ease the fixed cost burden for small business owners. The official called for active participation and interest from citizens.

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