Yongin City to Provide Subsidies for 4,440 Eco-Friendly Vehicles This Year... Applications Open from February 2

4,000 Electric Passenger Cars and 96 Hydrogen Passenger Cars Allocated
New "Conversion Subsidy" Introduced for Internal Combustion Vehicles... Up to 1.3 Million Won

Yongin City in Gyeonggi Province will provide subsidies for 4,440 eco-friendly vehicles this year.

On January 29, Yongin City announced that, in order to achieve carbon neutrality and improve air quality, it will offer subsidies for 4,440 eco-friendly vehicles, including hydrogen and electric vehicles, with applications being accepted starting February 2.

For hydrogen vehicles, subsidies will be provided for a total of 126 vehicles, including 96 passenger cars and 30 low-floor buses. The eligible hydrogen passenger car is Hyundai Motor Company's "The All-New Nexo," with a fixed subsidy of 32.5 million won per vehicle. For hydrogen low-floor buses, Hyundai's "Universe" will receive a subsidy of 346.4 million won per bus.

For electric vehicles, subsidies will be provided for a total of 4,314 units, including 4,000 passenger cars, 304 trucks, 5 personal vans, and 5 children's school buses. Of these, in the first half of the year, subsidies will be prioritized for 2,000 passenger cars, 150 trucks, 3 personal vans, and 3 children's school buses.

The maximum subsidy for electric vehicles varies by type: up to 9.28 million won for passenger cars, 16.8 million won for trucks, and 115.55 million won for children's school buses. In particular, multi-child households with two or more children under the age of 18 who purchase an electric passenger car will receive an additional subsidy of 1 million won for two children, 2 million won for three children, and 3 million won for four or more children.

Young adults aged 19 to 34 who purchase an electric passenger car for the first time in their lives will receive an additional 20% of the national subsidy. For those purchasing an electric passenger car for use as a taxi, an additional 2.5 million won will be provided.

For electric trucks, small business owners and individuals in the lower-income bracket will receive an additional 30% of the national subsidy, while vehicles purchased for delivery services or by farmers will receive an additional 10% of the national subsidy.

This year, a new "conversion subsidy" has been introduced to encourage the transition from internal combustion engine vehicles to electric vehicles. Individuals who have owned an internal combustion engine vehicle (excluding hybrids) for more than three years and sell or scrap it to purchase an electric passenger car or electric truck will receive up to 1.3 million won in additional support, depending on the vehicle type.

Tax benefits are also available for eco-friendly vehicle purchases. Up to 3 million won in individual consumption tax and acquisition tax will be reduced for electric vehicles, and up to 4 million won for hydrogen vehicles. Additional benefits include discounts on public parking fees and a 30% reduction in highway tolls.

Eligible applicants for the subsidy are individuals aged 18 or older who have resided in Yongin City for at least 90 days prior to the application date, or corporations, organizations, and public institutions with offices within the region. Applicants must not have received an eco-friendly vehicle subsidy within the past two years.

For more details, refer to the "Notices & Announcements" section on the city hall website or the "Zero-Emission Vehicle Portal." Guidance is also available from the Climate and Air Division at City Hall or from authorized dealerships.