알파경제 - South Korea Boosts EV Subsidy Budget in Supplementary Spending Plan

Photo courtesy of Yonhap News

 

 

[Alpha Biz= Kim Minyoung] SEOUL, April 12, 2026 — South Korea’s Ministry of Climate, Environment and Energy has increased its budget for electric vehicle (EV) purchase subsidies as part of the first supplementary budget approved by the National Assembly on April 10.

With the ministry’s overall budget expanded by 6.62 trillion won under the extra budget plan, an additional 150 billion won has been allocated specifically to EV subsidies.

The added funding is expected to support the purchase of approximately 20,000 passenger EVs and 9,000 electric commercial vehicles, further accelerating the country’s transition to eco-friendly transportation.

 

 

알파경제 Kim Minyoung Reporter(kimmy@alphabiz.co.kr)