Public Hearing Held on the Introduction Plan for Corporate Passenger Car Exclusive License Plates

[Asia Economy Reporter Kim Min-young] The Ministry of Land, Infrastructure and Transport announced on the 31st that it will hold a public hearing to gather various opinions on the 'Introduction Plan for Corporate Passenger Car Exclusive License Plates.'

This public hearing will also be broadcast live online, allowing experts, industry representatives, civic groups, and any citizens interested in vehicle registration plates to participate.

According to the Ministry, while newly registered vehicles have decreased by an average of 1.3% annually over the past five years, corporate-owned vehicles have increased at an average annual rate of 2.4%.

Over the recent five years (2018?2022), among newly registered corporate passenger cars, 71.3% of vehicles priced between 100 million and 400 million KRW and 88.4% of vehicles priced over 400 million KRW were corporate-owned passenger cars, indicating a need for management of corporate passenger cars due to concerns over private use.

Accordingly, the Ministry prepared the introduction plan for corporate passenger car exclusive license plates by collecting survey data and opinions from experts and industry through a research project. The plan includes the target vehicles for license plate attachment, license plate design, and implementation schedule.

In a public survey on the introduction of exclusive license plates for corporate vehicles, 84% agreed on the necessity of introduction, and 79% believed it would be effective.

At this public hearing, the Korea Automobile Safety Research Institute, which conducted the research project, will present the progress and key details of the 'Corporate Passenger Car Exclusive License Plate' introduction, and related experts attending the hearing will provide various opinions to ensure the effective implementation of the exclusive license plates for corporate passenger cars.

The Ministry plans to reflect the opinions presented at this public hearing, coordinate with related agencies, finalize the 'Introduction Plan for Corporate Passenger Car Exclusive License Plates,' and implement it from the second half of the year after administrative notice in the first half.