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Busan Metropolitan City to Actively Promote Electric Vehicle Supply Project and Flexibly Respond to Rising Demand

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Busan Metropolitan City, led by Mayor Park Heong-joon, announced that it will actively implement the “2026 Electric Vehicle Supply Project” to respond to the growing demand for electric vehicles, and will operate the program flexibly by continuously monitoring supply conditions and adjusting volumes by vehicle type.

Recently, applications for electric vehicles have increased significantly in line with rising demand, and the city is strengthening its management system to ensure stable supply.
As demand for electric vehicles expands due to factors such as fluctuations in international oil prices and reductions in EV prices, some local governments have experienced early exhaustion of subsidy allocations.
In this context, Busan Metropolitan City is implementing the project based on a target of supplying 7,174 electric vehicles to the private sector in 2026, and has observed heightened public interest from the early stage of the project, leading to increased application demand.

As of March 2026, a total of 2,250 EV applications have been received, representing an approximately 2.7-fold increase compared to the same month last year (835 cases). This includes 1,832 electric passenger vehicles (678 last year) and 418 electric cargo vehicles (157 last year), indicating increased demand across all vehicle types.
Reflecting this trend, the city is continuously monitoring supply conditions and plans to implement the project in a stable manner through flexible operation, including adjustments to vehicle-type allocations, even in cases where early exhaustion of certain categories may occur.

To ease the financial burden of EV purchases for citizens, the city is implementing the “Busan Youth EV Dream” program alongside subsidy support.
The “Busan Youth EV Dream” program is a Busan-specific initiative designed to reduce the financial burden on young people and promote the use of eco-friendly vehicles, supporting EV purchases for various youth groups including first-time car buyers and those who are employed or starting businesses.
Additional support for young people amounts to up to KRW 2 million, and participating manufacturers and importers—Hyundai Motor Company, Kia, KG Mobility, EVKMC, and Centro AK—also provide an additional KRW 500,000 upon vehicle purchase.

In addition, the city continues to operate the “Local Discount Program” to expand EV adoption and alleviate the actual purchase burden.
This program provides additional discounts when purchasing vehicles through cooperation with EV manufacturers, with five companies participating: Hyundai Motor Company, Kia, KG Mobility, EVKMC, and Centro AK.
Citizens can receive a total benefit of KRW 600,000, consisting of a KRW 300,000 discount from manufacturers/importers and an additional KRW 300,000 subsidy from the city.
Further details regarding support can be found on the city’s official website announcement page (https://www.busan.go.kr/nbgosi).

Lee Byeong-seok, Assistant Mayor of Environment and Water Policy Office, stated, “As public interest in electric vehicles continues to grow, it is important to carefully monitor and steadily implement the supply project,” adding, “Through various support policies such as the ‘Busan Youth EV Dream’ program for young people, we will promote the transition to eco-friendly transportation while easing the burden on citizens.”