Subsidy revision plan for electric vehicles to be decided in January, lowering purchase price standards = South Korea

On the 16th of this month, the South Korean Ministry of the Environment held a briefing session regarding electric vehicle (EV) subsidies that will be implemented this year for the South Korean automobile industry.
Under the revised bill, which will come into effect as early as February, the government will
The subsidy amount will be determined based on the energy density and recycling rate. The lighter the battery and the greater the energy output, the higher the subsidy amount will be.
Furthermore, the government has changed the purchase price range at which the EV subsidy repayment rate is 100% from the previous 57 million won (approximately 6.32 million yen) to 55 million won (approximately 6.32 million yen).
We are also considering lowering the price to 10,000 yen. The EV/battery industry believes that the reason for this revision is to foster Korean industry and rein in Chinese production. Korean battery manufacturer
The NCM (nickel cobalt manganese) battery being developed by China is more energy efficient and recyclable than the LFP battery (lithium iron phosphate Eon battery) produced by a Chinese manufacturer.
This is because the rate is high. The Ministry of the Environment plans to finalize the revised subsidy plan in January. Furthermore, starting this year, the government will provide additional subsidies to first-time EV buyers, young people, and people with low incomes.
We are also considering proposals.