Parking spots for small cars to bring lot owners cash

Property owners will receive a tax break for reserving parking lot spaces for mini cars, according to the Land Ministry.

The ministry said yesterday it will revise a relevant law to put the change in place within the year.

The move is part of government efforts to promote the use of fuel-efficient cars for both environmental and economic purposes. Korea imports most of the oil it consumes.

The ministry said the more parking spaces reserved for 1,000 cc or smaller cars, the less of a traffic congestion charge will be levied on property owners. The traffic congestion charge is a type of quasi tax that property owners have to pay once a year.

The central government will also provide various incentives, such as building a road for regional governments encouraging the use of smaller cars, the ministry said.

Changwon, South Gyeongsang, and Gumi, North Gyeongsang, were cited as exemplary cities regarding efforts to secure parking lot spaces for small cars.

Meanwhile, due to the growing interest in the environment coupled with the economic slump, the number of mini cars registered with the government rose from 936,000 at the end of last year to 983,000 as of last week, the ministry said.

Jeju topped the list in terms of the portion of mini cars to all cars registered as of this month, the ministry said.

Thirteen out of 100 cars registered in Jeju were mini cars. Seoul was at the bottom with only five out of 100 cars being small.

By Moon Gwang-lip [joe@joongang.co.kr]