South Korean Deputy Prime Minister and Minister of Finance Lee Hyung-il visited the Hyundai Motor and Kia R&D Centers in Hwaseong, Gyeonggi Province on the 2nd, and held an industry symposium aimed at strengthening the competitiveness of the electric

2026-11-02

South Korean Deputy Prime Minister and Minister of Finance Lee Hyung-il visited the Hyundai Motor and Kia R&D Centers in Hwaseong, Gyeonggi Province on the 2nd, and held an industry symposium aimed at strengthening the competitiveness of the electric vehicle industry. The symposium aimed to review the current state of development of electric and autonomous vehicle technologies and to hear the government's suggestions for necessary support. Lee Hyung-il stated, "Regarding support for tax deductions for electric vehicle production, the government will actively participate in the National Assembly's discussion process and conduct in-depth discussions." He added, "To reflect the industry's opinions, we will formulate and announce a 'Plan to Strengthen the Competitiveness of the Electric Vehicle Industry' this month, which includes strengthening autonomous driving technology and expanding research and development of core components and technologies."

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