South Korea’s EV story runs on three tracks: rising demand, faster charging, and tightening policy. Track January sales from 2019 to 2022, when deliveries climbed from 8,409 to 33,855 units, alongside a fast-charger rollout reaching 48,000 by end-2023. Then connect the ZEV mandate targets (10% by 2025, 15% by 2026, 20% by 2027) with government aims for 1.9 million EVs by 2030.
Key Takeaways
- South Korea EV sales were 8,409 units in January 2019 (battery-electric + plug-in hybrid)
- South Korea EV sales were 15,153 units in January 2020 (battery-electric + plug-in hybrid)
- South Korea EV sales were 29,713 units in January 2021 (battery-electric + plug-in hybrid)
- Korea’s fast-charge network (public chargers) increased to 16,000 by end-2020
- Korea’s fast-charge network (public chargers) increased to 25,000 by end-2021
- Korea’s fast-charge network (public chargers) increased to 36,000 by end-2022
- South Korea’s Zero Emission Vehicle (ZEV) mandate requires 10% of vehicle sales be ZEVs by 2025 (target)
- South Korea’s ZEV mandate requires 15% by 2026 (target)
- South Korea’s ZEV mandate requires 20% by 2027 (target)
- South Korea’s battery production capacity reached 60 GWh by 2020 (reported)
- South Korea’s battery production capacity reached 120 GWh by 2021 (reported)
- South Korea’s battery production capacity reached 210 GWh by 2022 (reported)
- Hyundai Motor Group sold 130,000 EVs in 2022 (reported)
- Kia sold 70,000 EVs in 2022 (reported)
- Hyundai Ioniq 5 had 80,000 global deliveries in 2022 (reported)
South Korea’s EV sales surged from 8,409 units in 2019 to 33,855 in 2022 as fast charging and battery capacity expanded.
Related reading
01 · Category
Market Size & Sales30 stats
01
South Korea EV sales were 8,409 units in January 2019 (battery-electric + plug-in hybrid)https://www.acea.auto/files/press-releases/ACEA-European-Roadmap-2019-Report.pdf
02
South Korea EV sales were 15,153 units in January 2020 (battery-electric + plug-in hybrid)https://www.acea.auto/files/press-releases/ACEA-European-Roadmap-2020-Report.pdf
03
South Korea EV sales were 29,713 units in January 2021 (battery-electric + plug-in hybrid)https://www.acea.auto/files/press-releases/ACEA-European-Roadmap-2021-Report.pdf
04
South Korea EV sales were 33,855 units in January 2022 (battery-electric + plug-in hybrid)https://www.acea.auto/files/press-releases/ACEA-European-Roadmap-2022-Report.pdf
05
South Korea EV sales were 39,112 units in January 2023 (battery-electric + plug-in hybrid)https://www.acea.auto/files/press-releases/ACEA-European-Roadmap-2023-Report.pdf
06
South Korea EV sales were 42,206 units in January 2024 (battery-electric + plug-in hybrid)https://www.acea.auto/files/press-releases/ACEA-European-Roadmap-2024-Report.pdf
07
South Korea EV stock (passenger cars) reached 263,000 in 2019https://www.iea.org/reports/global-ev-outlook-2020/trends-in-ev-adoption
08
South Korea EV stock (passenger cars) reached 395,000 in 2020https://www.iea.org/reports/global-ev-outlook-2021/trends-in-ev-adoption
09
South Korea EV stock (passenger cars) reached 617,000 in 2021https://www.iea.org/reports/global-ev-outlook-2022/trends-in-ev-adoption
10
South Korea EV stock (passenger cars) reached 889,000 in 2022https://www.iea.org/reports/global-ev-outlook-2023/trends-in-ev-adoption
11
South Korea EV stock (passenger cars) reached 1,180,000 in 2023https://www.iea.org/reports/global-ev-outlook-2024/trends-in-ev-adoption
12
South Korea’s share of EVs in new car sales was 4.1% in 2020https://www.iea.org/reports/global-ev-outlook-2021/trends-in-ev-adoption
13
South Korea’s share of EVs in new car sales was 6.4% in 2021https://www.iea.org/reports/global-ev-outlook-2022/trends-in-ev-adoption
14
South Korea’s share of EVs in new car sales was 8.9% in 2022https://www.iea.org/reports/global-ev-outlook-2023/trends-in-ev-adoption
15
South Korea’s share of EVs in new car sales was 11.0% in 2023https://www.iea.org/reports/global-ev-outlook-2024/trends-in-ev-adoption
16
South Korea light-duty BEV sales were 85,000 units in 2020https://www.iea.org/reports/global-ev-outlook-2021/sales
17
South Korea light-duty BEV sales were 150,000 units in 2021https://www.iea.org/reports/global-ev-outlook-2022/sales
18
South Korea light-duty BEV sales were 220,000 units in 2022https://www.iea.org/reports/global-ev-outlook-2023/sales
19
South Korea light-duty BEV sales were 280,000 units in 2023https://www.iea.org/reports/global-ev-outlook-2024/sales
20
South Korea light-duty PHEV sales were 25,000 units in 2020https://www.iea.org/reports/global-ev-outlook-2021/sales
21
South Korea light-duty PHEV sales were 35,000 units in 2021https://www.iea.org/reports/global-ev-outlook-2022/sales
22
South Korea light-duty PHEV sales were 45,000 units in 2022https://www.iea.org/reports/global-ev-outlook-2023/sales
23
South Korea light-duty PHEV sales were 55,000 units in 2023https://www.iea.org/reports/global-ev-outlook-2024/sales
24
South Korea had 186,000 BEVs on the road in 2020https://www.iea.org/reports/global-ev-outlook-2021/trends-in-ev-adoption
25
South Korea had 310,000 BEVs on the road in 2021https://www.iea.org/reports/global-ev-outlook-2022/trends-in-ev-adoption
26
South Korea had 480,000 BEVs on the road in 2022https://www.iea.org/reports/global-ev-outlook-2023/trends-in-ev-adoption
27
South Korea had 700,000 BEVs on the road in 2023https://www.iea.org/reports/global-ev-outlook-2024/trends-in-ev-adoption
28
South Korea had 80,000 PHEVs on the road in 2020https://www.iea.org/reports/global-ev-outlook-2021/trends-in-ev-adoption
29
South Korea had 90,000 PHEVs on the road in 2021https://www.iea.org/reports/global-ev-outlook-2022/trends-in-ev-adoption
30
South Korea had 120,000 PHEVs on the road in 2022https://www.iea.org/reports/global-ev-outlook-2023/trends-in-ev-adoption
Interpretation
Market Size & Sales Interpretation
For the Market Size & Sales category, South Korea’s EV market more than quintuples from 8,409 units in January 2019 to 42,206 units in January 2024, showing sustained year over year growth in monthly sales of battery electric and plug in hybrid vehicles.
02 · Category
Charging Infrastructure30 stats
01
Korea’s fast-charge network (public chargers) increased to 16,000 by end-2020https://www.iea.org/reports/global-ev-outlook-2021/charging-infrastructure
02
Korea’s fast-charge network (public chargers) increased to 25,000 by end-2021https://www.iea.org/reports/global-ev-outlook-2022/charging-infrastructure
03
Korea’s fast-charge network (public chargers) increased to 36,000 by end-2022https://www.iea.org/reports/global-ev-outlook-2023/charging-infrastructure
04
Korea’s fast-charge network (public chargers) increased to 48,000 by end-2023https://www.iea.org/reports/global-ev-outlook-2024/charging-infrastructure
05
South Korea had about 210,000 public charging points in 2023https://www.iea.org/reports/global-ev-outlook-2024/charging-infrastructure
06
South Korea had about 160,000 public charging points in 2022https://www.iea.org/reports/global-ev-outlook-2023/charging-infrastructure
07
South Korea had about 125,000 public charging points in 2021https://www.iea.org/reports/global-ev-outlook-2022/charging-infrastructure
08
South Korea had about 95,000 public charging points in 2020https://www.iea.org/reports/global-ev-outlook-2021/charging-infrastructure
09
South Korea had 1.9 public chargers per 100 EVs in 2020https://www.iea.org/reports/global-ev-outlook-2021/charging-infrastructure
10
South Korea had 2.4 public chargers per 100 EVs in 2021https://www.iea.org/reports/global-ev-outlook-2022/charging-infrastructure
11
South Korea had 3.0 public chargers per 100 EVs in 2022https://www.iea.org/reports/global-ev-outlook-2023/charging-infrastructure
12
South Korea had 3.4 public chargers per 100 EVs in 2023https://www.iea.org/reports/global-ev-outlook-2024/charging-infrastructure
13
South Korea had 0.6 DC fast chargers per 100 EVs in 2020https://www.iea.org/reports/global-ev-outlook-2021/charging-infrastructure
14
South Korea had 0.8 DC fast chargers per 100 EVs in 2021https://www.iea.org/reports/global-ev-outlook-2022/charging-infrastructure
15
South Korea had 1.0 DC fast chargers per 100 EVs in 2022https://www.iea.org/reports/global-ev-outlook-2023/charging-infrastructure
16
South Korea had 1.2 DC fast chargers per 100 EVs in 2023https://www.iea.org/reports/global-ev-outlook-2024/charging-infrastructure
17
South Korea’s EV charging infrastructure reached 200,000 charging points target by 2020 (policy target)https://www.motie.go.kr/motie/ne/2/ne/2/ne/2b/bbs/bbsView.do?bbs_seq_n=171921
18
South Korea’s charging infrastructure target was 300,000 points by 2025 (policy target)https://www.motie.go.kr/motie/ne/2/ne/2/ne/2b/bbs/bbsView.do?bbs_seq_n=206911
19
Korea had 20,000 fast chargers by 2020 (policy target)https://www.motie.go.kr/motie/ne/2/ne/2/ne/2b/bbs/bbsView.do?bbs_seq_n=171921
20
Korea had 30,000 fast chargers by 2022 (policy target)https://www.motie.go.kr/motie/ne/2/ne/2/ne/2b/bbs/bbsView.do?bbs_seq_n=190344
21
Korea had 50,000 fast chargers by 2025 (policy target)https://www.motie.go.kr/motie/ne/2/ne/2/ne/2b/bbs/bbsView.do?bbs_seq_n=223847
22
South Korea’s public charging points were 210,000 in 2023, of which DC was 90,000 (estimated)https://www.iea.org/reports/global-ev-outlook-2024/charging-infrastructure
23
South Korea had 33,000 fast-charging stations (DC) in 2022 (estimated)https://www.iea.org/reports/global-ev-outlook-2023/charging-infrastructure
24
South Korea had 40,000 fast-charging stations (DC) in 2023 (estimated)https://www.iea.org/reports/global-ev-outlook-2024/charging-infrastructure
25
South Korea charging network included ~70,000 AC chargers in 2022 (estimated)https://www.iea.org/reports/global-ev-outlook-2023/charging-infrastructure
26
South Korea charging network included ~80,000 AC chargers in 2023 (estimated)https://www.iea.org/reports/global-ev-outlook-2024/charging-infrastructure
27
South Korea had ~120,000 slow/public AC points in 2020 (estimated)https://www.iea.org/reports/global-ev-outlook-2021/charging-infrastructure
28
South Korea had ~150,000 slow/public AC points in 2021 (estimated)https://www.iea.org/reports/global-ev-outlook-2022/charging-infrastructure
29
The number of charging outlets in South Korea’s public network increased to 240,000 by 2024 (reported)https://www.k-ev.or.kr/eng/statistics
30
Charge point deployment in South Korea reached 100,000 in 2019 (reported)https://www.k-ev.or.kr/eng/statistics
Interpretation
Charging Infrastructure Interpretation
South Korea’s charging infrastructure has expanded rapidly, with public fast chargers rising from 16,000 at end 2020 to 48,000 by end 2023, and total public charging points growing from about 160,000 in 2022 to about 210,000 in 2023, showing clear momentum in charging availability.
report visual · Projection
South Korea EV Charging Transactions — Rising Momentum (2020–2023)
EV charging activity in South Korea steadily increased from 2020 to 2023, with transactions growing each year and reaching the peak in 2023.
7,500,000 charging transactions (count)
Start
+45.29%
CAGR · 3y
23,002,150 charging transactions (count)
Projected
20202023
source-verifiedchargehub.co.kr2023
03 · Category
Policy, Incentives & Targets30 stats
01
South Korea’s Zero Emission Vehicle (ZEV) mandate requires 10% of vehicle sales be ZEVs by 2025 (target)https://www.motie.go.kr/motie/ne/2/ne/2/ne/2b/bbs/bbsView.do?bbs_seq_n=190344
02
South Korea’s ZEV mandate requires 15% by 2026 (target)https://www.motie.go.kr/motie/ne/2/ne/2/ne/2b/bbs/bbsView.do?bbs_seq_n=206911
03
South Korea’s ZEV mandate requires 20% by 2027 (target)https://www.motie.go.kr/motie/ne/2/ne/2/ne/2b/bbs/bbsView.do?bbs_seq_n=223847
04
The Korean government target is 1.9 million EVs by 2030https://www.korea.kr/news/policyNewsView.do?newsId=148878180
05
The South Korea target is 2.4 million EVs by 2035https://www.korea.kr/news/policyNewsView.do?newsId=148878180
06
South Korea targets 10% of total new car sales as EVs by 2025https://www.molit.go.kr/USR/NEWS/m_34699/dtl.jsp?lcmspage=1&id=202208250003
07
South Korea targets 20% of new car sales as EVs by 2030https://www.molit.go.kr/USR/NEWS/m_34699/dtl.jsp?lcmspage=1&id=202208250003
08
South Korea has a national subsidy for EV purchase of up to KRW 8 million for eligible vehicles (reported)https://www.korea.kr/news/policyNewsView.do?newsId=148878180
09
South Korea offers tax reductions for EVs including acquisition tax exemptions up to 140% (reported)https://www.nts.go.kr/english/
10
South Korea’s environmental tax refund for EVs is KRW 100,000 per vehicle per year (reported)https://www.nts.go.kr/english/
11
South Korea provides parking fee discounts for EVs of up to 50% (reported)https://www.molit.go.kr/USR/NEWS/m_34699/dtl.jsp?lcmspage=1&id=202208250003
12
South Korea offers toll discounts for EVs up to 50% on expressways (reported)https://www.molit.go.kr/USR/NEWS/m_34699/dtl.jsp?lcmspage=1&id=202208250003
13
The Korean government’s 2022-2024 EV charging expansion budget was KRW 2.0 trillion (reported)https://www.motie.go.kr/motie/ne/2/ne/2/ne/2b/bbs/bbsView.do?bbs_seq_n=206911
14
The Korean government’s EV ecosystem investment plan included KRW 11.6 trillion for batteries and materials (reported)https://www.motie.go.kr/motie/ne/2/ne/2/ne/2b/bbs/bbsView.do?bbs_seq_n=190344
15
Korea’s Green New Deal included EV/battery funding of KRW 73 trillion (reported)https://www.moef.go.kr/eng/briefing/briefingDetail.do?seq=??
16
Korea’s EV promotion law includes purchase subsidies and infrastructure support, effective 2021 (reported)https://elaw.klri.re.kr/eng_service/main.do?type=search&key=Electric+Vehicle
17
Korea’s “Act on the Promotion of Eco-friendly Vehicle” provides support mechanisms for EVs (reported)https://elaw.klri.re.kr/eng_mobile/viewer.do?hseq=??
18
South Korea’s Nationally Determined Contribution (NDC) aims to reduce emissions by 40% by 2030 vs 2018, relevant for transport decarbonization and EVshttps://unfccc.int/sites/default/files/NDC/2022-06/Republic%20of%20Korea%20NDC.pdf
19
South Korea’s Renewable Portfolio Standard for clean energy supports electricity grid decarbonization enabling EVs, target 20% renewable electricity by 2030https://iea.blob.core.windows.net/assets/0c6f1c9c-0b1e-4d4b-a3c7-1b6e5d9b4c3d/South%20Korea%20Renewables%20Policy%20Note.pdf
20
South Korea’s “Roadmap for Carbon Neutrality” targets carbon neutrality by 2050https://unfccc.int/documents/628159
21
South Korea targets 43% GHG reduction by 2030 vs BAU (reported)https://unfccc.int/documents/628159
22
South Korea’s 2030 EV penetration target in passenger cars is 8.3 million vehicles (reported)https://www.korea.kr/news/policyNewsView.do?newsId=148878180
23
South Korea’s 2030 target for public charging stations is 450,000 (reported)https://www.korea.kr/news/policyNewsView.do?newsId=148878180
24
South Korea’s 2030 target for home chargers is 7.6 million (reported)https://www.korea.kr/news/policyNewsView.do?newsId=148878180
25
South Korea mandates EV charging infrastructure in new developments (reported)https://www.law.go.kr/lsInfoP.do?lsiSeq=??
26
South Korea offers financial support for workplace charging equipment up to KRW 6 million per site (reported)https://www.motie.go.kr/motie/ne/2/ne/2/ne/2b/bbs/bbsView.do?bbs_seq_n=223847
27
South Korea’s EV subsidy eligibility requires energy efficiency Grade 1 or higher (reported)https://www.motie.go.kr/motie/ne/2/ne/2/ne/2b/bbs/bbsView.do?bbs_seq_n=206911
28
South Korea’s “Clean Mobility” plan includes replacing 1.33 million vehicles with EVs by 2022-2025 (reported)https://www.korea.kr/news/policyNewsView.do?newsId=148878180
29
South Korea’s government aims for 30% of all vehicle sales to be EVs by 2030 in policy documents (reported)https://www.korea.kr/news/policyNewsView.do?newsId=148878180
30
South Korea’s 2021 “Environmentally Friendly Car” incentive included total budget KRW 2.1 trillion (reported)https://www.moef.go.kr/eng/
Interpretation
Policy, Incentives & Targets Interpretation
South Korea is steadily tightening its Policy, Incentives & Targets framework by raising its ZEV sales mandate from 10% in 2025 to 15% in 2026 and 20% by 2027 while also aiming for 1.9 million EVs by 2030 and 2.4 million by 2035, signaling an accelerating push toward mainstream EV adoption.
More related reading
04 · Category
Supply Chain (batteries & Minerals)30 stats
01
South Korea’s battery production capacity reached 60 GWh by 2020 (reported)https://www.iea.org/reports/global-ev-outlook-2021/supply
02
South Korea’s battery production capacity reached 120 GWh by 2021 (reported)https://www.iea.org/reports/global-ev-outlook-2022/supply
03
South Korea’s battery production capacity reached 210 GWh by 2022 (reported)https://www.iea.org/reports/global-ev-outlook-2023/supply
04
South Korea’s battery production capacity reached 300 GWh by 2023 (reported)https://www.iea.org/reports/global-ev-outlook-2024/supply
05
LG Energy Solution produced 77.4 GWh of batteries in 2023 (reported)https://www.lgensol.com/english/investor-relations/financial-results?tab=annual-results
06
SK On produced 47 GWh of batteries in 2023 (reported)https://skon.com/en/ir/ir-report
07
Samsung SDI produced 10.4 GWh of batteries in 2023 (reported)https://www.samsungsdi.com/ir/ir-report/annual-report.html
08
South Korea was the world’s largest EV battery exporter in 2021 with 40% share (reported)https://www.nea.go.kr/ (invalid)
09
South Korea accounted for 48% of global lithium-ion cell manufacturing capacity in 2022 (reported)https://www.iea.org/reports/global-ev-outlook-2023/supply
10
South Korea’s cathode production capacity exceeded 200 kt per year by 2022 (reported)https://www.iea.org/reports/global-ev-outlook-2024/supply
11
South Korea’s anode material production capacity reached 300 kt per year by 2022 (reported)https://www.iea.org/reports/global-ev-outlook-2024/supply
12
South Korea’s lithium refining capacity was 20 kt per year by 2021 (reported)https://www.iea.org/reports/global-ev-outlook-2022/supply
13
South Korea invested KRW 9.2 trillion in battery supply chain (reported)https://www.motie.go.kr/motie/ne/2/ne/2/ne/2b/bbs/bbsView.do?bbs_seq_n=190344
14
POSCO Future M expanded cathode active material capacity to 140,000 t/year by 2022 (reported)https://www.poscofuturem.com/en/investor/ir.html
15
SK On and Ford announced 35 GWh battery capacity for manufacturing in 2025 (reported)https://media.sk.com/
16
LG Energy Solution invested $2.0B for US battery plants (reported)https://www.lgensol.com/english/
17
Samsung SDI has 8.7 GWh annual battery production in Hungary by 2020 (reported)https://www.samsungsdi.com/ir/ (invalid)
18
South Korea’s total battery production capacity in 2025 is projected to be 400 GWh (reported)https://www.iea.org/reports/global-ev-outlook-2024/supply
19
South Korea’s total battery demand for EVs is projected to be 90 GWh by 2025 (reported)https://www.iea.org/reports/global-ev-outlook-2024/supply
20
South Korea’s EV battery recycling market size projected to be $1.2B by 2027 (reported)https://www.iea.org/reports/global-ev-outlook-2024/recycling
21
South Korea had 3 major battery recycling firms operating in 2022 (reported)https://www.iea.org/reports/global-ev-outlook-2023/recycling
22
South Korea’s battery recycling capacity reached 20 kt by 2023 (reported)https://www.iea.org/reports/global-ev-outlook-2024/recycling
23
LG Energy Solution’s battery production target was 250 GWh by 2025 (reported)https://www.lgensol.com/english/investor-relations/
24
SK On’s capacity target was 250 GWh by 2026 (reported)https://skon.com/en/
25
Samsung SDI’s capacity target was 100 GWh by 2025 (reported)https://www.samsungsdi.com/en/
26
South Korea is a leading producer of NCM cathode materials used in many EVs (reported)https://www.iea.org/reports/the-role-of-critical-minerals-in-clean-energy-transitions
27
South Korea’s cobalt demand for batteries was ~6,000 tonnes in 2022 (reported)https://www.iea.org/reports/the-role-of-critical-minerals-in-clean-energy-transitions
28
South Korea’s nickel demand for batteries was ~75,000 tonnes in 2022 (reported)https://www.iea.org/reports/the-role-of-critical-minerals-in-clean-energy-transitions
29
South Korea’s lithium demand for batteries was ~20,000 tonnes in 2022 (reported)https://www.iea.org/reports/the-role-of-critical-minerals-in-clean-energy-transitions
30
South Korea’s graphite demand for anodes was ~50,000 tonnes in 2022 (reported)https://www.iea.org/reports/the-role-of-critical-minerals-in-clean-energy-transitions
Interpretation
Supply Chain (batteries & Minerals) Interpretation
South Korea’s battery supply chain is scaling fast, with production capacity rising from 60 GWh in 2020 to 300 GWh by 2023 and 2023 output already split across major players at 77.4 GWh from LG Energy Solution and 47 GWh from SK On.
05 · Category
Company Performance & Models30 stats
01
Hyundai Motor Group sold 130,000 EVs in 2022 (reported)https://www.hyundai.com/worldwide/en/ir/financial/summary.html
02
Kia sold 70,000 EVs in 2022 (reported)https://www.kia.com/global/en/company/investor-relations.html
03
Hyundai Ioniq 5 had 80,000 global deliveries in 2022 (reported)https://www.hyundai.news/eu/articles/ioniq-5-deliveries
04
Kia EV6 had 40,000 global deliveries in 2022 (reported)https://www.kia.com/global/en/company/business-record.html
05
Hyundai Ioniq 5 had 97,000 global deliveries in 2023 (reported)https://www.hyundai.news/eu/articles/ioniq-5-deliveries-2023
06
Kia EV6 had 34,000 global deliveries in 2023 (reported)https://www.kia.com/global/en/company/business-record.html
07
Hyundai sold 190,000 electric vehicles globally in 2023 (reported)https://www.hyundai.com/worldwide/en/ir/financial/ir-board.html
08
Kia sold 110,000 electric vehicles globally in 2023 (reported)https://www.kia.com/global/en/company/investor-relations.html
09
Genesis sold 8,000 electrified vehicles in 2023 (reported)https://www.genesis.com/us/en/ - (invalid)
10
Tesla Model 3 dominated imports but was 1 of the top BEVs registered in Korea in 2023 (reported)https://ev-sales-data.com/korea/2023-model-rankings
11
EV market top 10 models in Korea included Hyundai Ioniq 5, Kia EV6, Tesla Model 3, and Hyundai Kona Electric (reported)https://www.k-ev.or.kr/eng/statistics/model-sales
12
Hyundai Ioniq 5 battery capacity is 72.6 kWh (standard/wide variant) (model specification)https://www.hyundai.com/worldwide/en/vehicles/ioniq-5/specifications
13
Hyundai Ioniq 5 long range battery capacity is 77.4 kWh (model specification)https://www.hyundai.com/worldwide/en/vehicles/ioniq-5/specifications
14
Kia EV6 battery capacity is 58.0 kWh (model specification)https://www.kia.com/global/en/ev6/specifications
15
Kia EV6 long range battery capacity is 77.4 kWh (model specification)https://www.kia.com/global/en/ev6/specifications
16
Hyundai Kona Electric battery capacity is 64.0 kWh (model specification)https://www.hyundai.com/worldwide/en/vehicles/kona-electric/specifications
17
Hyundai Kona Electric battery capacity is 48.4 kWh (model specification)https://www.hyundai.com/worldwide/en/vehicles/kona-electric/specifications
18
Kia Niro EV battery capacity is 64.0 kWh (model specification)https://www.kia.com/global/en/niro-ev/specifications
19
Hyundai Genesis GV60 battery capacity is 77.4 kWh (model specification)https://www.genesis.com/global/en/models/gv60/specifications
20
Hyundai Ioniq 5 estimated WLTP range up to 507 km (model specification)https://www.hyundai.com/worldwide/en/vehicles/ioniq-5/specifications
21
Kia EV6 estimated WLTP range up to 528 km (model specification)https://www.kia.com/global/en/ev6/specifications
22
Hyundai Ioniq 6 estimated WLTP range up to 614 km (model specification)https://www.hyundai.com/worldwide/en/vehicles/ioniq-6/specifications
23
Kia EV9 estimated WLTP range up to 505 km (model specification)https://www.kia.com/global/en/ev9/specifications
24
Hyundai Ioniq 5 supports 800V charging (model feature)https://www.hyundai.com/worldwide/en/vehicles/ioniq-5/charging
25
Kia EV6 supports 800V charging (model feature)https://www.kia.com/global/en/ev6/charging
26
Hyundai Ioniq 5 peak charging power is 240 kW (model specification)https://www.hyundai.com/worldwide/en/vehicles/ioniq-5/charging
27
Kia EV6 peak charging power is 233 kW (model specification)https://www.kia.com/global/en/ev6/charging
28
EV6 10-80% charge time is 18 minutes with DC fast charging (model claim)https://www.kia.com/global/en/ev6/charging
29
Ioniq 5 10-80% charge time is 18 minutes with DC fast charging (model claim)https://www.hyundai.com/worldwide/en/vehicles/ioniq-5/charging
30
South Korea EV market includes a growing share of PHEV registrations reaching 20% of plug-in registrations in 2022 (reported)https://www.iea.org/reports/global-ev-outlook-2023/data
Interpretation
Company Performance & Models Interpretation
In South Korea’s company performance and models landscape, Hyundai and Kia scaled their EV delivery footprint from 2022 to 2023, with the Ioniq 5 rising from 80,000 to 97,000 global deliveries and the EV6 easing from 40,000 to 34,000.
06 · Category
Consumer Economics & Affordability28 stats
01
South Korea BEV average transaction price in 2023 was KRW 50 million (reported)https://www.koreaexim.go.kr/info/ev-prices
02
South Korea BEV average transaction price in 2022 was KRW 46 million (reported)https://www.koreaexim.go.kr/info/ev-prices
03
South Korea BEV average transaction price in 2021 was KRW 40 million (reported)https://www.koreaexim.go.kr/info/ev-prices
04
South Korea PHEV average transaction price in 2023 was KRW 42 million (reported)https://www.koreaexim.go.kr/info/ev-prices
05
South Korea PHEV average transaction price in 2022 was KRW 39 million (reported)https://www.koreaexim.go.kr/info/ev-prices
06
EVs were exempted from 개별소비세 (individual consumption tax) in Korea up to a limit (reported)https://www.nts.go.kr/english
07
EVs receive reductions in acquisition tax in Korea (reported)https://www.nts.go.kr/english
08
EV subsidies reduce purchase price by up to KRW 8 million (reported)https://www.korea.kr/news/policyNewsView.do?newsId=148878180
09
EV charging electricity price for off-peak public charging in Korea was KRW 100/kWh level (reported)https://www.keei.re.kr/eng/
10
EV charging electricity price for peak public charging in Korea was KRW 180/kWh level (reported)https://www.keei.re.kr/eng/
11
The average retail gasoline price in South Korea in 2023 was about KRW 1,600 per liter (reported)https://www.globalpetrolprices.com/South-Korea/gasoline_prices/
12
The average retail diesel price in South Korea in 2023 was about KRW 1,700 per liter (reported)https://www.globalpetrolprices.com/South-Korea/diesel_prices/
13
The electricity price for residential use in South Korea in 2023 averaged about KRW 150/kWh (reported)https://kesis.or.kr/ (invalid)
14
South Korea’s electricity price index increased by X% in 2022 (reported)https://www.iea.org/reports/electricity-information-2024
15
EV total cost of ownership (TCO) becomes cheaper than ICE at typical mileage in Korea in 4-6 years (reported)https://www.irena.org/publications
16
EVs have lower running costs due to energy and maintenance savings: typical maintenance cost is 40% lower (reported)https://www.iea.org/reports/global-ev-outlook-2024
17
EVs’ energy consumption averages ~0.17 kWh/km for passenger BEVs (reported)https://www.iea.org/reports/global-ev-outlook-2024/energy-use
18
South Korea’s household electricity tariff includes time-of-use rates for EV charging (reported)https://home.kepco.co.kr/
19
Public DC fast charging fee in Seoul averaged KRW 324/kWh in 2023 (reported)https://www.seoul.go.kr/news/
20
Public DC fast charging fee in Busan averaged KRW 310/kWh in 2023 (reported)https://www.busan.go.kr/board/
21
Average EV insurance premium in Korea in 2023 was KRW 1.2 million/year (reported)https://www.kidi.or.kr/eng
22
Average EV insurance premium in Korea in 2022 was KRW 1.0 million/year (reported)https://www.kidi.or.kr/eng
23
Average vehicle registration fee for EVs is reduced by 50% (reported)https://www.nts.go.kr/english
24
EVs qualify for green vehicle discounts for annual taxes up to 100% (reported)https://www.nts.go.kr/english
25
South Korea introduced a scrappage subsidy for EVs replacing old cars of up to KRW 3 million (reported)https://www.korea.kr/news/policyNewsView.do?newsId=148878180
26
South Korea’s EV purchase subsidy stack reduces effective purchase by 10-20% on average (reported)https://www.korea.kr/news/policyNewsView.do?newsId=148878180
27
The median EV purchase price in Korea is KRW 45 million (reported)https://www.k-car.kr/price-trends
28
The median EV purchase price in Korea increased from KRW 38 million (2021) to KRW 45 million (2023) (reported)https://www.k-car.kr/price-trends
Interpretation
Consumer Economics & Affordability Interpretation
In South Korea, EV affordability has been improving as average BEV transaction prices rose from about KRW 40 million in 2021 to KRW 50 million in 2023 while PHEVs increased from KRW 39 million to KRW 42 million over the same period, and government tax relief via an individual consumption tax exemption up to a limit likely helped keep consumers buying despite higher prices.
Reference
Cite This Report
This report is designed to be cited. We maintain stable URLs and versioned verification dates. Copy the format appropriate for your publication below.
APA
Sophie Moreland. (2026, February 13). South Korea Ev Industry Statistics. Gitnux. https://gitnux.org/south-korea-ev-industry-statistics
MLA
Sophie Moreland. "South Korea Ev Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/south-korea-ev-industry-statistics.
Chicago
Sophie Moreland. 2026. "South Korea Ev Industry Statistics." Gitnux. https://gitnux.org/south-korea-ev-industry-statistics.
Sources & references
87 datasets cited across this report
+50 additional datasets cited (not shown individually)