South Korea is experiencing a surge in electric vehicle (EV) sales, driven by government incentives and growing consumer demand for eco-friendly transportation. However, this EV boom is having an unexpected consequence: increased insurance costs for drivers. As more people switch to EVs, insurance companies are facing a new set of challenges in assessing and pricing risks, leading to higher premiums for some motorists. With the country's EV market expected to continue growing, drivers may need to budget more for insurance in the coming years.
EV boom brings higher insurance costs for drivers The Korea Times
