Shortcut to Body Shortcut to main menu

Investment News

  • Home
  • About Us
  • Newsroom
  • Investment News
S. Korea to spend 1.44 bln won to foster experts of eco-cars

According to Yonhap News,

SEOUL, Nov. 25 (Yonhap) -- South Korea said Wednesday it plans to allocate 1.44 billion won (US$1.29 million) through 2025 to foster experts of eco-friendly cars in sync with the country's green growth policy, which centers on breaking away from fossil fuels and utilizing more sustainable resources.

Under the project, South Korea will spend the budget to educate around 480 experts of eco-friendly cars annually over the next five years, according to the Ministry of Trade, Industry and Energy.

"The project is aimed at improving drivers' convenience and helping carmakers to penetrate deeper into the future car industry," the ministry said.

The program will nurture experts for all phases of the automobile industry from research and development to production, by joining ties with local colleges.

South Korea has recently unveiled its vision for the green automobile industry.

Under the blueprint, the country will increase the number of accumulated sales of electric cars and hydrogen fuel cell automobiles to 1.13 million and 200,000, respectively, by 2025.

It will mark a sharp growth from September this year, when the accumulated number of EVs on roads here reached 120,000 units, while those of hydrogen cars came to around 9,500 units.

The number of hydrogen charging stations will reach 450 by 2025, jumping from 72 this year as well.

To make eco-friendly cars more affordable, the country will make efforts to extend tax deductions on the purchase of such automobiles by 2022 and work closely with private firms to slash the prices of major parts.

Source Text

Copyrights Yonhap News. All Rights Reserved.
Reprint or redistribution without permission is prohibited.

Source: Yonhap News (Nov 25, 2020)

Meta information