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New division under S. Korea's Industry ministry to foster use of eco-friendly cars

A new division under the Ministry of Trade, Industry, and Energy that would be responsible for developing electric vehicle and hydrogen car-related technologies would be launched on Nov. 11. The move is in line with Sout…

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New division under S. Korea's Industry ministry to foster use of eco-friendly cars
To encourage the use of eco-friendly cars, the South Korea will implement tax deductions on EVs by 2022 and work closely with private firms to reduce the prices of major parts.

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A new division under the Ministry of Trade, Industry, and Energy that would be responsible for developing electric vehicle and hydrogen car-related technologies would be launched on Nov. 11.

The move is in line with South Korea's efforts to foster environment-friendly automobiles.

Last week, the country announced it would boost the number of accumulated sales of electric vehicles (EV) to 1.13 million and of hydrogen fuel cell automobiles to 200,000, by 2025.

In September, the number of EVs on South Korean roads reached 120,000, while those of hydrogen cars were at around 9,500.

To encourage the use of eco-friendly cars, the country will implement tax deductions on EVs by 2022 and work closely with private firms to reduce the prices of major parts.

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