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Support Applications Open July 8 for Busan Metropolitan City's Second-Half Electric Vehicle Subsidy Program Covering 3,331 Vehicles

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Busan Metropolitan City, led by Mayor Chun Jae-soo, announced that it will launch the "2026 Second-Half Electric Vehicle Subsidy Program," providing support for a total of 3,331 electric vehicles beginning July 8, in response to the sharp increase in demand for eco-friendly vehicles following the early closure of this year's first-half subsidy program due to strong public interest.

In the first half of this year, demand for electric vehicles surged, driven by rising international oil prices, the launch of various new vehicle models, and the operation of the Regional Discount Program.

Accordingly, Busan Metropolitan City swiftly secured an additional KRW 5.2 billion in funding and provided subsidies for a total of 5,707 vehicles, representing an increase of approximately 97 percent compared to the same period last year (2,895 vehicles).

To meet continued public demand, Busan Metropolitan City will provide subsidies for an additional 3,331 electric vehicles during the second half of the year.

The allocation by vehicle type consists of 2,790 electric passenger vehicles (2,090 general allocation and 700 priority allocation), 471 electric commercial vehicles (171 general allocation and 300 priority allocation), 54 electric buses, and 16 electric school buses.

In particular, 1,000 priority allocations have been reserved separately for electric passenger and commercial vehicles (700 passenger vehicles and 300 commercial vehicles) to support vulnerable groups and those with genuine transportation needs. Priority eligibility includes persons with disabilities, low-income households, national merit recipients with disabilities and independence merit recipients, small business owners, households with multiple children, first-time vehicle purchasers, and purchasers of vehicles with high fine dust reduction benefits.

To further reduce the financial burden on purchasers, Busan Metropolitan City will continue operating the Regional Discount Program for up to 2,000 passenger and commercial vehicles in cooperation with manufacturers and importers, while also continuing the Busan Youth EV Dream Program, which will support the purchase of 478 electric vehicles by young adults.

Under the Regional Discount Program, manufacturers and importers provide a KRW 300,000 vehicle discount, which is matched by an additional KRW 300,000 subsidy from Busan Metropolitan City, allowing purchasers to receive up to KRW 600,000 in total benefits. The program is intended to reduce the initial purchase cost for citizens and promote wider adoption of electric vehicles.

The Busan Youth EV Dream Program is a customized support initiative unique to Busan Metropolitan City that reflects the diverse circumstances of young people, including first-time vehicle purchases, childbirth, employment, business start-ups, and disability. Eligible participants may receive up to KRW 2 million in additional support, encouraging greater use of eco-friendly vehicles among younger generations.

Citizens wishing to purchase an electric vehicle may apply for the subsidy through the vehicle manufacturer or importer after signing a purchase contract. Applications will be accepted from July 8 until the allocated budget is exhausted.

Detailed information on eligibility, subsidy amounts by vehicle type, and application procedures is available in the Notices section of the Busan Metropolitan City website at https://www.busan.go.kr/nbgosi.

Lee Byung-seok, Assistant Mayor of Environmental Water Policy Office, said, "Public interest in electric vehicles has been so strong that not only the first-half subsidy program but also the additional allocation was expected to be exhausted early. Through a variety of support programs in the second half of the year, we will continue reducing the financial burden of purchasing eco-friendly vehicles and do our utmost to build Busan into a carbon-neutral city."