Seoul expands EV subsidies to speed shift away from internal combustion cars

Electric vehicle charging stations are seen in the parking lot of a large retail store in Seoul, Jan. 2. Yonhap

Seoul will expand incentives for electric vehicle (EV) purchases this year by adding city-funded subsidies to national support, as part of efforts to accelerate the shift away from internal combustion engine vehicles and reduce greenhouse gas emissions.

Under the plan, buyers who replace gasoline or diesel vehicles with electric models will be eligible for an additional 300,000 won ($203) from the Seoul Metropolitan Government, on top of a 1 million won subsidy provided by the central government, city officials said Sunday.

Seoul plans to earmark 22,526 EVs for subsidies this year, up about 18 percent from 19,081 supplied in 2024. Of the total, 22,409 vehicles are set for the private sector and 117 to public institutions. Private allocations include passenger cars, cargo trucks, taxis, vans and school buses.

Electric passenger vehicles will be eligible for subsidies of up to 7.54 million won. Buyers who scrap an internal combustion engine vehicle and purchase an electric passenger car or truck can receive up to 1.3 million won in additional conversion incentives, combining national and city funding.

Extra support will be provided to low-income households, young first-time buyers and families with multiple children. Electric taxis will qualify for an additional 2.5 million won in taxi-specific subsidies, with further incentives for EVs with extended battery warranties.

The city is also expanding support for electric cargo trucks to include medium- and large-sized vehicles, with subsidies of up to 78 million won. Incentives for electric buses and school buses will remain among the highest, with support of up to nearly 150 million won depending on vehicle size.

Applications will open Jan. 26 through the national zero-emission vehicle portal.