Government Considers Electric Car Tax Breaks

The South Korean government is considering new tax breaks for electric cars, similar to those already in place for hybrid car purchases. As it aims to make 'green' industries a feature of the economy in the future, the Ministry of Strategy and Finance is mulling reductions in consumption, acquisition and registration tax. Industry figures estimate that the cuts could take as much as KRW3mn (US$2,600) off the cost of an electric vehicle

To read the full article, please sign in or take a free trial.