President Moon Jae-in unveiled plans to invest heavily in green mobility projects.
The goal is to supply 200-thousand hydrogen cars and over one million EVs by 2025.
Hong Yoo reports.
South Korea aims to improve exports, employment, and air quality through the Korean New Deal.
Ecofriendly automobiles will serve as the engine driving economic growth.
On Friday, President Moon Jae-in visited Hyundai Motor Company's Ulsan factory, which is the first in the world to mass produce a hydrogen car, its Tucsan model, and is the first in Korea to mass produce an electric truck, its Porter model.
It is also where the electric car model Ionic5 will be manufactured using Hyundai's Electric Global Modular Platform, a technological milestone for electric vehicles.
The president plans to support the automobile industry's swift transition and create an ecofriendly industry with regional balance.
"The government has selected 'green future mobility' as one of the top 10 Korean New Deal projects. By 2025, we are planning to invest more than 17.6 billion U.S. dollars in green mobility projects such as electric and hydrogen cars.
One way to expand the market for electric and hydrogen vehicles is to make them affordable.
In 2025, the government plans to make electric cars around 9-thousand dollars cheaper than today by working with the private sector to research and develop a cheaper battery system.
Starting next month, the government will run a pilot program which lends batteries needed in electric vehicles
People can buy electric cars without batteries at a cheaper price and then borrow a battery through this project.
The government will also build 500-thousand charging stations for electric cars in apartments and houses, and 15-thousand at highway rest stops.
It will also build 100 hydrogen car charging stations by the first half of next year.
By establishing such infrastructure, the government hopes to lead the future mobility market five years from now.
Hong Yoo, Arirang News.