South Korea is considering extending a temporary tax cut on purchases of all-electric and hydrogen fuel cell electric cars, Finance Minister Hong Nam-ki said on June 25, in the latest move to help eco-friendly cars expand their presence here.
Since 2017, the government has waived a 5 percent special excise tax on purchases of all-electric and hydrogen fuel cell electric cars. The temporary tax cut is set to end in December this year.
By Ram Garikipati and newswires (ram@heraldcorp.com)