Korea Certification (KC) is gaining importance due to estimated growth of South Korean electric vehicle market12. May 2020
The government of South Korea announced that it plans to secure a 10 percent share of the global market for electric vehicles by 2023. The emerging segment of electric vehicles is an important factor for the domestic automotive industry and contributes to the reduction of pollutant emissions and greenhouse gases. Analysts expect the market for electric vehicles to grow by more than 19 percent between 2019 and 2025. Korean companies are already investing a considerable amount of money in the development of new and innovative technologies in the automotive sector. Hyundai has announced that it will invest 86.4 million US dollars worldwide by 2025 in future-oriented mobility concepts. Other companies contributing to the growth of the South Korean electric vehicle market include BMW AG, Audi AG, Ford Motors Co., Tesla Inc. and Volkswagen.
The government is also supporting the industry with subsidies of 1.8 billion US dollars. Further subsidies totaling 609 million US dollars have been promised for battery-powered electric vehicles and the development of an infrastructure with charging stations in 2020. The subsidies are paid to companies that are actively involved in the electric vehicle segment. The leaders in terms of innovation and market share are BMW AG, General Motors Co. and Hyundai Motor Co.
The market for electric vehicles can be broken down into vehicle types, drive technology and the type of battery. Vehicle types are commercial vehicles, passenger cars and two-wheeled vehicles, and a distinction is made between purely electric vehicles and plug-in hybrid vehicles. NiMH and Li-ion batteries are suitable for the design of the corresponding batteries. Due to the higher energy density and general acceptance, Li-ion batteries will be in greater demand. The automotive industry in South Korea has a high level of manufacturing expertise and, measured by production figures, ranks sixth in the world and fifth in terms of vehicle exports. At present, Hyundai in particular can supply the domestic market with its electric vehicles such as the Ioniq or Kona. General Motors Korea, formerly Daewoo Motor, also has an electric vehicle on offer in the form of the Chevrolet Bolt which is imported. Other well-known vehicle manufacturers who export their models to South Korea also offer cars with alternative drive systems. A KC Korea certificate is mandatory for the import of automotive components. A distinction is made between spare parts and complete vehicles. We would be pleased to advise you regarding Korea certification and the corresponding KC mark.
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