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THE INVESTOR
June 13, 2021

Economy

Seoul considers extending tax benefits on eco-friendly cars

  • PUBLISHED :June 25, 2019 - 15:24
  • UPDATED :June 25, 2019 - 15:24
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South Korea is considering extending a temporary tax cut on purchases of all-electric and hydrogen fuel cell electric cars, Finance Minister  Hong Nam-ki said on June 25, in the latest move to help eco-friendly cars expand their presence here.

Since 2017, the government has waived a 5 percent special excise tax on purchases of all-electric and hydrogen fuel cell electric cars. The temporary tax cut is set to end in December this year.

By Ram Garikipati and newswires (ram@heraldcorp.com)


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