September 03, 2014 12:16
The government has decided to delay the implementation of a low carbon car incentive scheme until after 2020 to minimize the fallout for customers and the automotive industry, it said Tuesday.
The new regulations passed in April last year would levy surcharges of up to W4 million (US$1=W1,018) on newly-purchased cars that emit high levels of greenhouse gases, while offering incentives of up to W1 million to buyers of vehicles deemed environmentally friendly.
But domestic carmakers oppose the scheme, claiming it would privilege German or Japanese electric or hybrid cars.
A government official said the decision was made considering the "excessive impact and burden on industries and markets" the scheme would have.
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