The electric vehicle subsidy in Seoul has been reduced to a maximum of 1.8 million KRW, down by 200,000 KRW from last year.
According to the integrated website for zero-emission vehicles under the Ministry of Environment, the local subsidy for electric vehicles in Seoul has been set at a maximum of 1.8 million KRW. Models such as the Hyundai Ioniq 5 (2WD, 4WD 19-inch), Ioniq 6 (Long Range 2WD), Kia EV6, Niro Plus, and All-New Niro will receive the full government subsidy of 6.8 million KRW. Combined with the Seoul local subsidy of 1.8 million KRW, buyers can receive up to 8.6 million KRW in total subsidies.
For example, with the Ioniq 6 2WD Long Range Exclusive priced at 56.05 million KRW, the total subsidy from both the Seoul local fund and central government amounting to 8.6 million KRW, brings the consumer’s cost down to just 47.45 million KRW.
Additionally, the Genesis G80 electric sedan and GV70 electric SUV (19-inch) will receive a total subsidy of 4.26 million KRW, consisting of a central government subsidy of 3.37 million KRW and a Seoul subsidy of 890,000 KRW.
The Tesla Model 3 and Model Y will receive a total of 3.28 million KRW, comprised of a central government subsidy of 2.6 million KRW and a Seoul subsidy of 680,000 KRW. Mercedes-Benz models EQA and EQB will benefit from government subsidies totaling 3.45 million KRW and 3.47 million KRW respectively, including Seoul’s subsidies of 720,000 KRW.
Lee Sang-jin daedusj@autodiary.kr