Mokpo City Expands Electric Vehicle Subsidies: Up to 14.5 Million KRW for Passenger Cars

Applications accepted until the 11th... 3.1 times increase compared to last year

[Asia Economy Honam Reporting Headquarters Reporter Jeong Seunghyun] Mokpo City, Jeollanam-do announced on the 2nd that it will expand the electric vehicle supply project in 2022.

The city plans to supply 372 vehicles (321 passenger cars, 51 cargo vehicles), which is 3.1 times more than last year's 120 vehicles.

In the first half of the year, purchase subsidies will be provided for 149 vehicles, including 98 passenger cars (including ultra-small cars) and 51 cargo vehicles, and the remaining passenger car supply will be distributed in the second half. The subsidy amount per vehicle is up to 14.5 million KRW for passenger cars, 7.91 million KRW for ultra-small cars, and up to 21.5 million KRW for cargo vehicles.

Eligibility requirements include individuals aged 18 or older who have had their resident registration address continuously in Mokpo City for more than 3 months as of the application date, sole proprietors whose business location and representative’s resident registration address are registered in Mokpo City before the application date, and corporations with business locations in Mokpo before the application date.

Applicants wishing to receive purchase subsidies should visit the electric vehicle manufacturer or importer from whom they intend to purchase, sign a purchase contract, and then submit the subsidy application form and other documents.

The subsidy application period is from the 3rd to the 11th of the month.

Applicants who have no disqualifications after submission and are granted eligibility for participation in the project may request confirmation of subsidy availability if the vehicle can be delivered within 10 days. Eligible applicants will be selected in the order of subsidy availability confirmation requests.

However, if the number of applications for electric cargo vehicles exceeds the project volume, recipients will be selected by lottery.

For detailed information, please refer to the announcement posted on the city’s website.

A city official stated, “Interest in electric vehicles is increasing day by day, so many applicants are expected,” and urged, “Please be sure to familiarize yourself with the application procedures and precautions specified in the announcement before applying.”