Several policy measures to transition the road transport sector are currently under consideration in South Korea. In December 2021, President Moon Jae-in's government announced the Korea Zero Emissions Vehicles (ZEV) Dissemination policy, which includes provisions such as subsidies for ZEVs, charging infrastructure for ZEVs, and a gradual increase in production targets for ZEVs over internal combusition engine (ICE) vehicles.
During his election campaign in early 2022, the current President Yoon Suk-yeol pledged to set a target to phase out ICE vehicles by 2035. In June 2022, President Yoon’s government announced a policy agenda which confirmed a 2035 target for “ZEV vehicle transition” but did not explicitly commit to a date for phasing out ICE vehicles. In addition, the agenda included plans to subsidise charging costs for ZEVs, and tighten GHG emissions standards for small vehicles. In July 2022, the Ministry of Environment announced a target for supplying 2 million ZEVs within President Yoon’s term.
On April 5th, The Hankyoreh reported that Korea Automobile Manufacturers Association (KAMA) Chairman Jung Man-ki appeared to oppose the regulation of internal combustion engine (ICE) vehicle production, instead calling for more incentive-oriented government policies such as investments in electric vehicle charging infrastructure.
In a 2nd March press release, the Chairman of the Korea Automobile Manufacturers (KAMA) supported expanding the supply of electric and hydrogen vehicles to achieve the 2030 NDC GHG emissions reduction target in the transportation sector of South Korea, calling for policy measures and investment support from the South Korean government.
In a 6th April press release, the Korea Automobile Manufacturers Association (KAMA) supported enactment of Future Vehicles Special Act to establish EV support system including tax benefits for EV production facilities.
As reported by DNews on July 17th, the Korea Automobile & Mobility Association (KAMA) stated support for the enactment of “Future Vehicles Special Act”, which would help automotive parts-making corporates in the transition to electric vehicles.
On the 10th May, the Korea Automobile Manufacturers Association (KAMA) advocated to abolish either the GHG emissions regulations or obligatory EVs sales system of South Korea, citing a double regulatory burden, at a meeting with the European Automobile Manufacturers Association (ACEA) in Brussels.
In a 24th March interview with Yonhap News, the Chairman of the Korea Automobile Manufacturers Association (KAMA), Kang Nam-hoon, strongly supported the legislation of ‘Special Act on Future Vehicles’ which includes tax supports and expansion of electric and hydrogen vehicles production sites in South Korea. The Chairman also called for investments in transitioning ICE vehicle production sites to EV production sites.
In an interview with Etoday on the 28th April, the Chairman of the Korea Automobile Manufacturers Association (KAMA), Kang Nam-hoon, supported government support to create an environment for enabling EV production of foreign automotive corporates, including GM Korea and Renault Korea. He also supported the enactment of ‘Future Vehicles Special Act’ for electrification transition in automotive parts corporates.
The table below lists the entities found to be most engaged with the policy. InfluenceMap tracks over 400 companies and 200 industry associations globally. Each entity name links to its full InfluenceMap profile, where the evidence of its engagement can be found.
| Influencemap Performance Band | Organization | Engagement Intensity | ||
|---|---|---|---|---|
| D+ | Lotte Chemical | 10 | Chemicals | Asia |
| D+ | SK Innovation Co | 12 | Energy | Asia |
| C | LG Chem | 28 | Chemicals | Asia |
| D+ | Hyundai Motor Group | 36 | Automobiles | Asia |
| D- | GS Energy | 8 | Energy | Asia |
