- South Korean National Assembly accepted Bill No. 2201911 for consideration
- Bill provides a four-year extension for special individual consumption tax reductions for eco-friendly vehicles
- Reductions extended to Dec. 31, 2028
- Reductions capped at 1 million South Korean won for hybrid vehicles, 3 million won for electric vehicles, and 4 million won for hydrogen EVs
Source: news.bloombergtax.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
