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Policies

Tax reduction per vehicle

Source: International Energy Agency
Last updated: 5 November 2017
- Tax reduction per vehicle (2016, 2017) (unit : KRW)BEV ~4,000,000, PHEV ~2,700,000, HEV ~2,700,000, FCV ~7,200,000 .5405 fast chargers have been installed nationwide so far. The Ministry of Knowledge Economy has recently pledged that EV buyers would beexempted from taxes worth up to KRW 4.2 million (US$3,600) from 2012. Additionally,all-electric car buyers will receive: a 5% reduction in the special consumptiontax, which also covers the education tax; a 7% cut in acquisition tax; and an additionaldiscount of up to 20% automobile bond purchases.

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Technologies