Policy status:Planned
Date Effective:2005
Policy Type:Research, Development and Deployment (RD&D), Economic Instruments, Policy Support, Information and Education
Agency:Ministry of Commerce, Industry and Energy
Climate Change Description:The Ministry of Commerce, Industry and Energy announced a finalised plan to develop and disseminate environmentally-friendly hybrid and fuel cell-powered vehicles. This five-year plan, which is expected to run from 2006, will establish mid- and long-term goals and strategies that would allow the country to develop its own hybrid car technologies and test-drive fuel cell cars by 2010. Under the five-year plan, Korea hopes to secure technologies to develop core parts of hybrid and fuel-cell vehicles including the motor and transmission by the end of the decade. The country aims to produce them by 2010. According to the plan, the country will start producing hybrid vehicles by the end of 2006 and have a production capacity of 300,000 units by 2010. Consumers who buy hybrid vehicles would be offered various incentives such as subsidies, tax breaks, and discounted parking fees. To promote the use of hybrid vehicles, government agencies take the initiative in purchasing hybrid cars for official use.

Last modified: Thu, 26 Jul 2012 15:33:38 CEST