Pohang City Expands Hydrogen Electric Vehicle Distribution... Provides Purchase Subsidies

Mandatory Operation for 2 Years

[Asia Economy Yeongnam Reporting Headquarters Reporter Dongguk Lee] Pohang City will invest 3.89 billion KRW in national and other project funds this year for the hydrogen electric vehicle distribution project, providing purchase subsidies for 61 hydrogen vehicles.

This year, Pohang City will provide purchase subsidies for a total of 61 vehicles, including 55 hydrogen passenger cars and 6 high-floor hydrogen buses. The city plans to support 32.5 million KRW per hydrogen passenger car and 350 million KRW per high-floor hydrogen bus.

The application period is from January 30 to December 8 (or until project funds are exhausted), and subsidy recipients will be selected after verifying disqualifications in the order of application submission.

Eligible applicants are individuals aged 18 or older who have continuously resided in Pohang City for at least 90 days prior to the application date, as well as corporations or organizations with headquarters, branches, or factories located within Pohang City.

Applicants wishing to purchase must submit the purchase support application documents when signing a purchase contract for a hydrogen vehicle with a hydrogen vehicle manufacturer or dealer.

Recipients of the subsidy for hydrogen electric vehicle purchases must operate the vehicle for a mandatory period of two years, during which deregistration or transfer of ownership to residents of other regions is prohibited.

However, in cases of unavoidable circumstances, the vehicle may be sold during the mandatory operation period to individuals, sole proprietors, or corporations with addresses in Pohang City, and prior approval for the sale must be obtained from Pohang City.

For more details regarding the hydrogen electric vehicle distribution project, please refer to the city’s website under the notices and announcements section or contact the Eco-friendly Vehicle Team or the call center.

Aerial view of Jangheung hydrogen charging station.

Currently, there are 23 hydrogen vehicles registered in Pohang City. When the commercial special hydrogen charging station in Jangheung-dong is completed in June this year, the infrastructure for hydrogen vehicle charging will expand, greatly alleviating inconveniences for hydrogen vehicle users.