S. Korea to Hike EV Subsidies by 20%, Unveil 15T Won Support for Auto Parts Suppliers

Published: Nov 15, 2025 15:30

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[SMM Overseas Trade Tariff Update] The South Korean government announced that, in response to US tariff risks, it plans to increase EV subsidies by 20% next year, bringing the total subsidy amount to 936 billion won. In addition, the South Korean government will roll out a package of measures, including providing over 15 trillion won in policy financing for auto parts suppliers in 2025.

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