Namyangju City Offers Early Retirement Support for Old Diesel Vehicles... Benefits Up to 120 Million Won

Namyangju City in Gyeonggi Province announced on March 9 that it will implement an early retirement support program for old diesel vehicles, allocating a budget of 2.5 billion won to target a total of 929 vehicles, in order to reduce fine dust and improve air quality.

Namyangju City Implements Early Retirement Support for Old Vehicles. Photo by Namyangju City

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The eligible vehicles include grade 4 and 5 diesel vehicles (with grade 5 including vehicles powered by fuels other than diesel) and construction machinery that have been registered for at least six months in an air quality control area and whose primary place of use is Namyangju City. In addition, the vehicle owner's (including joint ownership) final ownership period must be at least six months to apply.

Starting this year, the support amount for grade 4 vehicles under 3.5 tons will be standardized at 70% of the vehicle’s scrap value. The second subsidy, paid after scrapping, will now only apply to eco-friendly vehicles such as electric, hydrogen, or hybrid vehicles.

Furthermore, the city will cover the cost of pre-scrapping vehicle inspections to reduce the financial burden on owners and promote online inspections.

The subsidy will vary by vehicle type and age, and will be provided at 70% to 100% of the first-quarter standard vehicle value as assessed by the Korea Insurance Development Institute. Vehicles under 3.5 tons can receive up to 8 million won; diesel vehicles and construction machinery over 3.5 tons for road use can receive up to 100 million won; and forklifts or excavators can receive up to 120 million won.

In addition, vulnerable groups such as basic livelihood security recipients, low-income households, and small business owners will receive an additional 1 million won within the maximum subsidy amount.

The first round of support will be allocated to one vehicle per person, prioritizing grade 5 emission vehicles and vehicles with the oldest manufacturing dates; results will be announced in April. The first application period runs from February 27 to March 20, and the second round of support will be provided on a first-come, first-served basis until the budget is exhausted.

Applications for early retirement can be submitted online through the vehicle emissions website or by mailing the application documents to the Korea Automobile Environment Association via registered mail. Further details can be found in the public notice posted on the city’s website notice and announcement section.

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