In 2023, Korea Will Provide 16,920 Hydrogen Vehicles With Subsidies of 30M Won ($24.2 M)
The Ministry of Environment
The Korean government has announced plans to significantly increase the supply of hydrogen-powered vehicles, with a total of 16,920 vehicles set to receive subsidies this year.
The subsidies will include the cost of both local and governmental expenses, and will be provided to both individuals and corporations who wish to purchase a hydrogen vehicle. The Ministry of Environment will work with local governments to organize information sessions, which will take place in various regions including the metropolitan area, central area, and southern area, to provide information on the hydrogen car subsidy program and share the best practices from last year.
According to the announcement, the supply of hydrogen vehicles will include 16,000 passenger cars, 700 buses, 100 freight cars, and 120 cleaning trucks. The number of commercial hydrogen vehicles supported has more than doubled from 340 last year to 920 this year, including buses, freight, and cleaning trucks.
The local government of the buyer’s residence may offer a subsidy of up to 22.5 million won for the purchase of a passenger vehicle, with the option of receiving up to 30 million won if local expenses are factored in. These subsidies will be available through the “Integrated Pollution-Free Vehicle Library.”
The information sessions organized by the Ministry of Environment will provide a platform for local governments to connect with the ministry more effectively and discuss the direction of promoting customized supply projects that take into account regional supply conditions such as the status of hydrogen refueling stations. The sessions will be held three times for each region, with the goal of promoting the supply of hydrogen vehicles to achieve the 2030 National Greenhouse Gas Reduction Goal (NDC).
The supply of hydrogen vehicles has increased every year, with a total supply of 29,733 vehicles, and the greatest annual supply of 10,256 vehicles provided by the Ministry of Environment last year. Park Yeon-jae, air environment policy officer at the Ministry of Environment, stated that the promotion of the hydrogen vehicle supply policy will continue, as it is an essential component in achieving the NDC.