Yongin City Increases Fuel Subsidies for Freight Trucks by 3.8 Billion Won, Final Budget Set at 28.4 Billion Won
by Lee jonggu
Published 15 Apr.2026 17:20(KST)
Budget Increased from 24.633 Billion Won to 28.428 Billion Won
to Respond to International Oil Price Surge Triggered by Middle East Tensions
Yongin Special City, Gyeonggi Province (Mayor Lee Sangil), has finalized an additional budget increase of 3.8 billion won for fuel subsidies to support the freight transport industry, which has been struggling due to the recent rise in international oil prices.
This decision was made to alleviate the management difficulties facing the freight transport sector, whose fuel costs have surged amid the recent war in the Middle East and the resulting volatility in global oil prices.
On April 15, the city announced that, through the first supplementary budget for 2026, it has allocated an additional 3.795 billion won for fuel subsidies for freight vehicle transport business operators.
With this increase, the total related budget has risen from the previous 24.633 billion won to 28.428 billion won.
The supplementary budget secured this time will be provided to approximately 11,700 freight vehicle transport business operators in the region as a 'fuel tax-linked subsidy' and a 'diesel price-linked subsidy.'
The 'fuel tax-linked subsidy' is a system that supports an amount equivalent to the difference between the current fuel tax and the fuel tax as of June 2001, reflecting changes introduced by the energy tax reform.
In addition to the 'fuel tax-linked subsidy,' the city also operates a 'diesel price-linked subsidy' system, which provides an extra subsidy covering 70% of the amount exceeding 1,700 won per liter when diesel prices surpass this threshold.
The city expects that this supplementary budget will help enhance the stability of the local logistics industry.
A Yongin City official stated, "As external factors such as instability in the Middle East increase concerns over rising oil prices, we have swiftly secured funds to lessen the economic burden on freight truck operators. We will continue to listen to voices from the field and proactively provide administrative support to ensure that the regional logistics economy does not contract."
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