Sejong Expands Support for Early Retirement of Old Diesel Vehicles

[Asia Economy (Sejong) Reporter Jeong Il-woong] Sejong City will expand early retirement support for old diesel vehicles within the jurisdiction.

The city announced on the 23rd that it will accept applications for participation in the early retirement support project for old diesel vehicles starting from the 3rd of next month.

The support targets are diesel vehicles with emission grades 4 and 5 without reduction devices attached, dump trucks, concrete mixer trucks, concrete pump trucks, and other three types of road construction machinery manufactured before August 2009 under the emission standards, as well as forklifts and excavators equipped with Tier-1 or lower engines.

Among these, emission grade 4 vehicles and forklifts/excavators are newly included support targets starting this year. Vehicle grades can be checked on the Automobile Emission Gas website.

The city plans to support the early retirement of 610 vehicles this year, including 100 grade 4 vehicles, 470 grade 5 vehicles, and 40 forklifts/excavators. However, the project will proceed until the budget is exhausted.

The early retirement subsidy is up to 3 million KRW for passenger cars under 3.5 tons when purchasing a new car, and up to 8 million KRW for grade 4 vehicles. An additional 500,000 KRW is provided if the new car is purchased as a zero-emission vehicle.

The support amount is calculated by multiplying the vehicle’s standard price, assessed by the Insurance Development Institute, by the support rate.

The early retirement subsidy applies to vehicles that have been continuously registered for more than six months as of the application date in Sejong City or the air quality management zone and have passed the functional inspection according to the Automobile Management Act.

Also, after notification of selection, the vehicle must receive a normal operation judgment on the early retirement target confirmation certificate, and vehicles with a history of reduction device installation support or conversion to low-emission engines are not eligible for support.

Other detailed information regarding subsidy applications can be found in the announcement posted on the city’s website.

Meanwhile, the city plans to completely restrict the operation of grade 5 diesel vehicles during the fine dust seasonal management period from December this year to March next year. A fine of 100,000 KRW per day will be imposed if caught during this period.