Gov't to give tax benefits to buyers of electric cars

SEOUL, Sept. 7 (Yonhap) -- The government announced on Wednesday that it will give up to 6 million won (US$5,597) worth of tax incentives to those who purchase electric vehicles from early next year as part of efforts to boost the domestic green car industry.
The government decided to provide purchasers of electric cars with cuts in special consumption and educational taxes and exemptions in acquisition and registration taxes that are applied to other types of vehicles, starting in January next year, the prime minister's office said.
The decision was made in the first government meeting held to check the progress of its "green growth" policies, the office said. Prime Minister Kim Hwang-sik presided over the meeting, it added.
In addition, the Ministry of Knowledge and Economy and the Ministry of Environment will jointly establish a comprehensive plan by next month to improve the nation's infrastructure for charging electric vehicles, the office said.
The move is part of the government's efforts to bolster green business as the nation's next-generation growth engine. Such tax cuts and building a widespread network of charging stations is expected to draw customer attention and boost sales of vehicles based on eco-friendly technologies, officials said.