South Korea's Electric Vehicle (EV) market is facing a growing threat from Chinese competitors, as the country's trade policies leave its domestic industry vulnerable to the influx of cheaper Chinese imports. Despite a surge in global demand for EVs, South Korea's tariffs on imported vehicles remain relatively low, making it easier for Chinese manufacturers to penetrate the market. Furthermore, the country's subsidies for local EV producers are limited, hindering their ability to compete with their Chinese counterparts, who have been building a robust domestic market with generous government support. As a result, South Korean EV manufacturers are struggling to keep pace with the competition, raising concerns about the long-term viability of the country's EV industry.
Low tariffs, stingy subsidies leave Korea most exposed to Chinese EVs as rivals build barriers KED Global
