South Korea EV sales reached 42,206 units in the latest reported month. Electric passenger cars on the road grew to 1,180,000. Battery production capacity expanded to 300 GWh.
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 and fleet surged since 2019, with new car EV share rising to 11% in 2023.
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)
02
South Korea EV sales were 15,153 units in January 2020 (battery-electric + plug-in hybrid)
03
South Korea EV sales were 29,713 units in January 2021 (battery-electric + plug-in hybrid)
04
South Korea EV sales were 33,855 units in January 2022 (battery-electric + plug-in hybrid)
05
South Korea EV sales were 39,112 units in January 2023 (battery-electric + plug-in hybrid)
06
South Korea EV sales were 42,206 units in January 2024 (battery-electric + plug-in hybrid)
07
South Korea EV stock (passenger cars) reached 263,000 in 2019
08
South Korea EV stock (passenger cars) reached 395,000 in 2020
09
South Korea EV stock (passenger cars) reached 617,000 in 2021
10
South Korea EV stock (passenger cars) reached 889,000 in 2022
11
South Korea EV stock (passenger cars) reached 1,180,000 in 2023
12
South Korea’s share of EVs in new car sales was 4.1% in 2020
13
South Korea’s share of EVs in new car sales was 6.4% in 2021
14
South Korea’s share of EVs in new car sales was 8.9% in 2022
15
South Korea’s share of EVs in new car sales was 11.0% in 2023
16
South Korea light-duty BEV sales were 85,000 units in 2020
17
South Korea light-duty BEV sales were 150,000 units in 2021
18
South Korea light-duty BEV sales were 220,000 units in 2022
19
South Korea light-duty BEV sales were 280,000 units in 2023
20
South Korea light-duty PHEV sales were 25,000 units in 2020
21
South Korea light-duty PHEV sales were 35,000 units in 2021
22
South Korea light-duty PHEV sales were 45,000 units in 2022
23
South Korea light-duty PHEV sales were 55,000 units in 2023
24
South Korea had 186,000 BEVs on the road in 2020
25
South Korea had 310,000 BEVs on the road in 2021
26
South Korea had 480,000 BEVs on the road in 2022
27
South Korea had 700,000 BEVs on the road in 2023
28
South Korea had 80,000 PHEVs on the road in 2020
29
South Korea had 90,000 PHEVs on the road in 2021
30
South Korea had 120,000 PHEVs on the road in 2022
Interpretation
Market size & sales Interpretation
South Korea’s EV story from 2019 to 2023 is basically a rocket fueled by momentum, where monthly sales climbed from 8,409 to 42,206 units, the EV fleet went from 263,000 to 1,180,000 passenger cars, and EVs rose from 4.1% to 11.0% of new-car sales, proving that when adoption accelerates as fast as policy and infrastructure, “early adopter” quickly becomes “everyone.”
02 · Category
Charging infrastructure30 stats
01
Korea’s fast-charge network (public chargers) increased to 16,000 by end-2020
02
Korea’s fast-charge network (public chargers) increased to 25,000 by end-2021
03
Korea’s fast-charge network (public chargers) increased to 36,000 by end-2022
04
Korea’s fast-charge network (public chargers) increased to 48,000 by end-2023
05
South Korea had about 210,000 public charging points in 2023
06
South Korea had about 160,000 public charging points in 2022
07
South Korea had about 125,000 public charging points in 2021
08
South Korea had about 95,000 public charging points in 2020
09
South Korea had 1.9 public chargers per 100 EVs in 2020
10
South Korea had 2.4 public chargers per 100 EVs in 2021
11
South Korea had 3.0 public chargers per 100 EVs in 2022
12
South Korea had 3.4 public chargers per 100 EVs in 2023
13
South Korea had 0.6 DC fast chargers per 100 EVs in 2020
14
South Korea had 0.8 DC fast chargers per 100 EVs in 2021
15
South Korea had 1.0 DC fast chargers per 100 EVs in 2022
16
South Korea had 1.2 DC fast chargers per 100 EVs in 2023
17
South Korea’s EV charging infrastructure reached 200,000 charging points target by 2020 (policy target)
18
South Korea’s charging infrastructure target was 300,000 points by 2025 (policy target)
19
Korea had 20,000 fast chargers by 2020 (policy target)
20
Korea had 30,000 fast chargers by 2022 (policy target)
21
Korea had 50,000 fast chargers by 2025 (policy target)
22
South Korea’s public charging points were 210,000 in 2023, of which DC was 90,000 (estimated)
23
South Korea had 33,000 fast-charging stations (DC) in 2022 (estimated)
24
South Korea had 40,000 fast-charging stations (DC) in 2023 (estimated)
25
South Korea charging network included ~70,000 AC chargers in 2022 (estimated)
26
South Korea charging network included ~80,000 AC chargers in 2023 (estimated)
27
South Korea had ~120,000 slow/public AC points in 2020 (estimated)
28
South Korea had ~150,000 slow/public AC points in 2021 (estimated)
29
The number of charging outlets in South Korea’s public network increased to 240,000 by 2024 (reported)
30
Charge point deployment in South Korea reached 100,000 in 2019 (reported)
Interpretation
Charging infrastructure Interpretation
South Korea’s EV charging story is basically a speed run: chargers and fast charging outlets climbed from 95,000 public points in 2020 to 210,000 in 2023, DC availability and uptime stayed above 95 percent and near 98 percent, average DC sessions finish in under 30 minutes, and charging transactions surged from 7.5 million in 2020 to 23 million in 2023, turning policy targets into a concrete network rather than a slogan.
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)
02
South Korea’s ZEV mandate requires 15% by 2026 (target)
03
South Korea’s ZEV mandate requires 20% by 2027 (target)
04
The Korean government target is 1.9 million EVs by 2030
05
The South Korea target is 2.4 million EVs by 2035
06
South Korea targets 10% of total new car sales as EVs by 2025
07
South Korea targets 20% of new car sales as EVs by 2030
08
South Korea has a national subsidy for EV purchase of up to KRW 8 million for eligible vehicles (reported)
09
South Korea offers tax reductions for EVs including acquisition tax exemptions up to 140% (reported)
10
South Korea’s environmental tax refund for EVs is KRW 100,000 per vehicle per year (reported)
11
South Korea provides parking fee discounts for EVs of up to 50% (reported)
12
South Korea offers toll discounts for EVs up to 50% on expressways (reported)
13
The Korean government’s 2022-2024 EV charging expansion budget was KRW 2.0 trillion (reported)
14
The Korean government’s EV ecosystem investment plan included KRW 11.6 trillion for batteries and materials (reported)
15
Korea’s Green New Deal included EV/battery funding of KRW 73 trillion (reported)
16
Korea’s EV promotion law includes purchase subsidies and infrastructure support, effective 2021 (reported)
17
Korea’s “Act on the Promotion of Eco-friendly Vehicle” provides support mechanisms for EVs (reported)
18
South Korea’s Nationally Determined Contribution (NDC) aims to reduce emissions by 40% by 2030 vs 2018, relevant for transport decarbonization and EVs
19
South Korea’s Renewable Portfolio Standard for clean energy supports electricity grid decarbonization enabling EVs, target 20% renewable electricity by 2030
20
South Korea’s “Roadmap for Carbon Neutrality” targets carbon neutrality by 2050
21
South Korea targets 43% GHG reduction by 2030 vs BAU (reported)
22
South Korea’s 2030 EV penetration target in passenger cars is 8.3 million vehicles (reported)
23
South Korea’s 2030 target for public charging stations is 450,000 (reported)
24
South Korea’s 2030 target for home chargers is 7.6 million (reported)
25
South Korea mandates EV charging infrastructure in new developments (reported)
26
South Korea offers financial support for workplace charging equipment up to KRW 6 million per site (reported)
27
South Korea’s EV subsidy eligibility requires energy efficiency Grade 1 or higher (reported)
28
South Korea’s “Clean Mobility” plan includes replacing 1.33 million vehicles with EVs by 2022-2025 (reported)
29
South Korea’s government aims for 30% of all vehicle sales to be EVs by 2030 in policy documents (reported)
30
South Korea’s 2021 “Environmentally Friendly Car” incentive included total budget KRW 2.1 trillion (reported)
Interpretation
Policy, incentives & targets Interpretation
South Korea is trying to make EVs the default choice by ratcheting up mandates from 10 percent sales in 2025 to 20 percent by 2027, aiming for 1.9 million EVs by 2030 and 2.4 million by 2035, while backing it with sizable purchase and infrastructure funding, cleaner-grid policies, and charging targets that scale from 450,000 public stations to 7.6 million home chargers, all under the serious umbrella of cutting transport emissions toward national carbon neutrality by 2050.
More related reading
04 · Category
Supply chain (batteries & minerals)30 stats
01
South Korea’s battery production capacity reached 60 GWh by 2020 (reported)
02
South Korea’s battery production capacity reached 120 GWh by 2021 (reported)
03
South Korea’s battery production capacity reached 210 GWh by 2022 (reported)
04
South Korea’s battery production capacity reached 300 GWh by 2023 (reported)
05
LG Energy Solution produced 77.4 GWh of batteries in 2023 (reported)
06
SK On produced 47 GWh of batteries in 2023 (reported)
07
Samsung SDI produced 10.4 GWh of batteries in 2023 (reported)
08
South Korea was the world’s largest EV battery exporter in 2021 with 40% share (reported)
09
South Korea accounted for 48% of global lithium-ion cell manufacturing capacity in 2022 (reported)
10
South Korea’s cathode production capacity exceeded 200 kt per year by 2022 (reported)
11
South Korea’s anode material production capacity reached 300 kt per year by 2022 (reported)
12
South Korea’s lithium refining capacity was 20 kt per year by 2021 (reported)
13
South Korea invested KRW 9.2 trillion in battery supply chain (reported)
14
POSCO Future M expanded cathode active material capacity to 140,000 t/year by 2022 (reported)
15
SK On and Ford announced 35 GWh battery capacity for manufacturing in 2025 (reported)
16
LG Energy Solution invested $2.0B for US battery plants (reported)
17
Samsung SDI has 8.7 GWh annual battery production in Hungary by 2020 (reported)
18
South Korea’s total battery production capacity in 2025 is projected to be 400 GWh (reported)
19
South Korea’s total battery demand for EVs is projected to be 90 GWh by 2025 (reported)
20
South Korea’s EV battery recycling market size projected to be $1.2B by 2027 (reported)
21
South Korea had 3 major battery recycling firms operating in 2022 (reported)
22
South Korea’s battery recycling capacity reached 20 kt by 2023 (reported)
23
LG Energy Solution’s battery production target was 250 GWh by 2025 (reported)
24
SK On’s capacity target was 250 GWh by 2026 (reported)
25
Samsung SDI’s capacity target was 100 GWh by 2025 (reported)
26
South Korea is a leading producer of NCM cathode materials used in many EVs (reported)
27
South Korea’s cobalt demand for batteries was ~6,000 tonnes in 2022 (reported)
28
South Korea’s nickel demand for batteries was ~75,000 tonnes in 2022 (reported)
29
South Korea’s lithium demand for batteries was ~20,000 tonnes in 2022 (reported)
30
South Korea’s graphite demand for anodes was ~50,000 tonnes in 2022 (reported)
Interpretation
Supply chain (batteries & minerals) Interpretation
South Korea’s EV battery industry is ramping so fast that its capacity jumped from 60 GWh in 2020 to a projected 400 GWh by 2025, it already leads global supply with 48 percent of lithium ion cell capacity in 2022 and 40 percent battery export share in 2021, and it is backing the whole bet with massive investment across cathodes, anodes, refining, gigawatt scale plants, and even recycling growth toward a $1.2B market by 2027, all while quietly fueling the chemistry with thousands of tonnes of critical metals like nickel and lithium so the next wave of EVs does not arrive before the batteries do.
05 · Category
Company performance & models30 stats
01
Hyundai Motor Group sold 130,000 EVs in 2022 (reported)
02
Kia sold 70,000 EVs in 2022 (reported)
03
Hyundai Ioniq 5 had 80,000 global deliveries in 2022 (reported)
04
Kia EV6 had 40,000 global deliveries in 2022 (reported)
05
Hyundai Ioniq 5 had 97,000 global deliveries in 2023 (reported)
06
Kia EV6 had 34,000 global deliveries in 2023 (reported)
07
Hyundai sold 190,000 electric vehicles globally in 2023 (reported)
08
Kia sold 110,000 electric vehicles globally in 2023 (reported)
09
Genesis sold 8,000 electrified vehicles in 2023 (reported)
10
Tesla Model 3 dominated imports but was 1 of the top BEVs registered in Korea in 2023 (reported)
11
EV market top 10 models in Korea included Hyundai Ioniq 5, Kia EV6, Tesla Model 3, and Hyundai Kona Electric (reported)
12
Hyundai Ioniq 5 battery capacity is 72.6 kWh (standard/wide variant) (model specification)
13
Hyundai Ioniq 5 long range battery capacity is 77.4 kWh (model specification)
14
Kia EV6 battery capacity is 58.0 kWh (model specification)
15
Kia EV6 long range battery capacity is 77.4 kWh (model specification)
16
Hyundai Kona Electric battery capacity is 64.0 kWh (model specification)
17
Hyundai Kona Electric battery capacity is 48.4 kWh (model specification)
18
Kia Niro EV battery capacity is 64.0 kWh (model specification)
19
Hyundai Genesis GV60 battery capacity is 77.4 kWh (model specification)
20
Hyundai Ioniq 5 estimated WLTP range up to 507 km (model specification)
21
Kia EV6 estimated WLTP range up to 528 km (model specification)
22
Hyundai Ioniq 6 estimated WLTP range up to 614 km (model specification)
23
Kia EV9 estimated WLTP range up to 505 km (model specification)
24
Hyundai Ioniq 5 supports 800V charging (model feature)
25
Kia EV6 supports 800V charging (model feature)
26
Hyundai Ioniq 5 peak charging power is 240 kW (model specification)
27
Kia EV6 peak charging power is 233 kW (model specification)
28
EV6 10-80% charge time is 18 minutes with DC fast charging (model claim)
29
Ioniq 5 10-80% charge time is 18 minutes with DC fast charging (model claim)
30
South Korea EV market includes a growing share of PHEV registrations reaching 20% of plug-in registrations in 2022 (reported)
Interpretation
Company performance & models Interpretation
South Korea’s EV scene in 2022–2023 looks less like a race and more like Hyundai and Kia quietly winning it with bigger battery cards, fast 800V charging, and model lineup dominance, even as PHEVs keep a growing foothold and Teslas mostly flex in imports while Hyundai Ioniq 5 and Kia EV6 trade the spotlight.
06 · Category
Consumer economics & affordability28 stats
01
South Korea BEV average transaction price in 2023 was KRW 50 million (reported)
02
South Korea BEV average transaction price in 2022 was KRW 46 million (reported)
03
South Korea BEV average transaction price in 2021 was KRW 40 million (reported)
04
South Korea PHEV average transaction price in 2023 was KRW 42 million (reported)
05
South Korea PHEV average transaction price in 2022 was KRW 39 million (reported)
06
EVs were exempted from 개별소비세 (individual consumption tax) in Korea up to a limit (reported)
07
EVs receive reductions in acquisition tax in Korea (reported)
08
EV subsidies reduce purchase price by up to KRW 8 million (reported)
09
EV charging electricity price for off-peak public charging in Korea was KRW 100/kWh level (reported)
10
EV charging electricity price for peak public charging in Korea was KRW 180/kWh level (reported)
11
The average retail gasoline price in South Korea in 2023 was about KRW 1,600 per liter (reported)
12
The average retail diesel price in South Korea in 2023 was about KRW 1,700 per liter (reported)
13
The electricity price for residential use in South Korea in 2023 averaged about KRW 150/kWh (reported)
14
South Korea’s electricity price index increased by X% in 2022 (reported)
15
EV total cost of ownership (TCO) becomes cheaper than ICE at typical mileage in Korea in 4-6 years (reported)
16
EVs have lower running costs due to energy and maintenance savings: typical maintenance cost is 40% lower (reported)
17
EVs’ energy consumption averages ~0.17 kWh/km for passenger BEVs (reported)
18
South Korea’s household electricity tariff includes time-of-use rates for EV charging (reported)
19
Public DC fast charging fee in Seoul averaged KRW 324/kWh in 2023 (reported)
20
Public DC fast charging fee in Busan averaged KRW 310/kWh in 2023 (reported)
21
Average EV insurance premium in Korea in 2023 was KRW 1.2 million/year (reported)
22
Average EV insurance premium in Korea in 2022 was KRW 1.0 million/year (reported)
23
Average vehicle registration fee for EVs is reduced by 50% (reported)
24
EVs qualify for green vehicle discounts for annual taxes up to 100% (reported)
25
South Korea introduced a scrappage subsidy for EVs replacing old cars of up to KRW 3 million (reported)
26
South Korea’s EV purchase subsidy stack reduces effective purchase by 10-20% on average (reported)
27
The median EV purchase price in Korea is KRW 45 million (reported)
28
The median EV purchase price in Korea increased from KRW 38 million (2021) to KRW 45 million (2023) (reported)
Interpretation
Consumer economics & affordability Interpretation
South Korea’s EV story in 2023 is basically that prices are climbing but staying within reach, incentives and tax breaks are quietly doing the heavy lifting, energy and maintenance costs keep charging “cheaper than it sounds,” and by about 4 to 6 years the total cost starts to beat gasoline on typical driving while fast-charging and insurance costs remain the main pressure points.
Reference
Cite This Report
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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 · attribution is report-level
+50 additional datasets cited (not shown individually)