Lee pledges more subsidies for electric vehicles

Lee Jae-myung, the presidential nominee of the Democratic Party, speaks at a discussion with foreign correspondents in Seoul on Thursday. (Yonhap)

Ruling Democratic Party presidential nominee Lee Jae-myung pledged Friday to expand government subsidies for the electric vehicle industry and increase the production of the cars.

In a Facebook post, Lee said government subsidies have fallen far short of the amount needed to produce enough EVs to meet consumer demand.

He noted the biggest obstacles to getting more EVs on roads are their high price and lack of charging facilities.

"I will drastically expand the scope of subsidies in order to get auto companies to make more," Lee wrote. "By doing so, (we) will meet buyers' demand and shorten the delivery wait time."

He also pledged to expand the charging infrastructure and push to gradually replace cars used in the public sector and public transport with electric vehicles.

Around 3.6 million EVs will be required to meet the country's 2030 target of cutting greenhouse gas emissions by 40 percent, he said. (Yonhap)