The South Korean government is to provide tax incentives of $3,500 for the purchase of fuel cell vehicles to promote the adoption of the technology. This extends the country's comprehensive tax incentive scheme, which was previously only offered for electric and hybrid vehicles, and fits with the increasing popularity of hydrogen fuel cell vehicles (FCVs) in the auto industry. According to a report by Korea Electric Power Corporation (KEPCO), the country will also offer financial support for research into FCVs as well as subsidies on their use at public transport stations.
The South Korean government is to provide tax incentives of $3,500 for the purchase of fuel cell vehicles to promote the adoption of the technology. This extends the country's comprehensive tax incentive scheme, which was previously only offered for electric and hybrid vehicles, and fits with the increasing popularity of hydrogen fuel cell vehicles (FCVs) in the auto industry. There are currently very few FCVs in South Korea, and little refuelling infrastructure, however, investment in hydrogen stations is expected to increase along with the FCV sales.