Korea Joongang Daily
Korea JoongAng Daily

Europe flooded with EVs as Trump prepares to eliminate U.S. tax credit

As U.S. EV subsidies end, automakers are shifting focus to Europe's growing EV market driven by demand and government incentives.

2025-08-05

Cheaper Tesla Model Y looks to send a shock to Korea's EV market

Tesla’s newly launched lower-priced Model Y is shaking up Korea’s electric vehicle (EV) market, triggering fierce competition as subsidies make it available at cheaper prices in certain regions.

2025-04-09

Yoon promises subsidies for small businesses’ electricity and delivery fees

President Yoon Suk Yeol vowed Thursday to increase state support for small business owners by further subsidizing their electricity bills and introducing subsidies for delivery fees.

2024-10-31

Gov't mulling cuts to EV subsidies to fund charging infrastructure

The government is considering further cutting electric vehicle (EV) subsidies next year to instead use the funds to supplement insufficient charging infrastructure, according to sources Sunday.

2024-03-31

Conservatives slam DP leader's 1-million-won stimulus plan

Democratic Party (DP) leader Lee Jae-myung's suggestion that every household should receive 1 million won ($750) as part of an economic stimulus plan was blasted as “populist” and vote-pandering by conservatives on Monday.

2024-03-25

Gov't to boost childcare subsidies, increase soldiers' pay in 2024

Policies in welfare, transportation, real estate and other sectors will be newly adopted or amended in 2024.

2024-01-01

Probe reveals nearly 600 cases of misused subsidies by civic groups

Nearly 600 cases of corruption were found in nonprofit civic groups that received subsidies from local government offices in the past five years, resulting in 1.5 billion won ($1.2 million) worth of misappropriated funds.

2023-06-19

Government to pump $227 million into EV batteries, materials

The Korean government will inject 300 billion won ($227 million) into electric vehicle (EV) batteries and materials by 2027 as it seeks to make the products top export items.

2023-05-25

Civic groups fattening their belly with subsidies

The government must continue with its surveillance of state subsidies. Past governments have been scorned for supporting groups of the same ideology.

2023-05-17

Korea to continue negotiations with U.S. over IRA

Korea will continue to conduct pan-governmental negotiations with the United States over the Inflation Reduction Act (IRA) to maximize the interests of Korean corporations.

2023-04-05