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South Korea Implements Urgent Measures to Aid Auto Industry Amid U.S. Tariff Challenges
2025-04-09 /
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Author：小编
In response to the impact of U.S. tariffs on its automotive sector, South Korea announced a series of emergency measures on Wednesday. These initiatives encompass several key areas: a reduction in the vehicle purchase tax from 5% to 3.5%, valid until June 2025; an increase in electric vehicle purchase subsidies to a range of 30%-80%, with the subsidy period extended by six months to conclude at the end of the year; and an augmentation of policy financing support for automakers, raising it to 15 trillion Korean won.
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