Gwacheon City in Gyeonggi Province announced on the 10th that it will offer purchase subsidies to accelerate adoption of electric and hydrogen vehicles, as well as electric two-wheelers.
Under the program, the city will subsidize a total of 227 vehicles: 200 electric passenger cars, 12 electric cargo trucks, 10 hydrogen fuel-cell vehicles and 5 electric motorcycles.
Subsidy levels are tiered by vehicle type. Electric passenger cars qualify for up to ₩9.72 million (about $7,290), electric cargo trucks up to ₩23.2 million (about $17,400), and hydrogen fuel-cell vehicles receive a flat ₩32.5 million (about $24,375).
Eligibility is limited to individuals aged 18 or older who have had a continuous local address for at least 30 days before the application date, and to corporations or sole proprietors with business premises in the city. Applicants must not have received the same subsidy within the past two years.
The city will provide additional incentives for larger households. Households with two or more children aged 18 or younger will receive extra support ranging from ₩1 million to ₩3 million depending on the number of children (about $750 to $2,250).
First-time buyers aged 19–34 will receive an additional payment equal to 20% of the vehicle’s national subsidy. Additional top-ups are also available for taxi buyers, low-income households, and small-business owners.
Gwacheon has added a conversion incentive this year: residents who have owned an internal-combustion vehicle for three years or more and then scrap or sell it to purchase an electric vehicle can receive up to an additional ₩1.3 million (about $975).
To apply for an electric-vehicle subsidy, buyers must submit the application through their dealership after signing a purchase agreement. The vehicle must be delivered within two months of the application date.
