The Seoul Metropolitan Government will raise electric vehicle subsidies in 2026 by topping up national incentives with additional local funding, expanding support for private buyers, fleets and commercial vehicles, according to a report by The Korea Times.
The city plans to subsidise a total of 22,526 electric vehicles in 2026, an increase of about 18% compared with 2024 levels. Of that total, 22,409 vehicles are earmarked for private purchasers, while 117 units will be allocated to public institutions. Applications for the programme are set to open on Jan. 26 through South Korea’s national zero-emission vehicle portal.
Subsidies for electric passenger cars will reach up to 7.54 million won (€4,350) per vehicle. Buyers replacing an internal combustion passenger car or light commercial vehicle with an electric model will be eligible for additional conversion incentives of up to 1.3 million won, combining national and municipal funding. Extra support will also be available for low-income households, young first-time buyers and families with multiple children.
The city will also step up incentives for commercial electrification. Electric taxis will qualify for an extra 2.5 million won in taxi-specific subsidies, with further incentives tied to extended battery warranty coverage. Support for electric cargo trucks has been widened to include medium- and large-sized vehicles, with subsidies of up to 78 million won depending on vehicle specifications.
Incentives for electric buses and electric school buses remain among the most generous under the scheme, reaching close to 150 million won per vehicle based on size and category. City officials said the expanded measures are intended to accelerate electrification across passenger transport, logistics and public services in South Korea.