The South Korean government wants to attract KRW32.2bn (US$29m) in private sector investment over the next three years to expand the country’s electric vehicle (EV) recharging infrastructure.
The government hopes to increase the popularity of electric vehicles in the country with only 3,000 units having been sold so far. This compares with 260,000 EVs in use in the US and 95,000 in Japan, according to data released by the Ministry of Trade.
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The government is inviting local firms, including Korean Electric Power Corporation, to come together to build a network of 5,580 charging stations.
From this year, electric vehicles have to make up 25% of fleet purchases by all public offices in the country, including state run universities, according to local reports.
Foreign manufacturers such as China’s BYD Auto have announced plans to launch electric vehicles in the country.
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