This year imported models are also included in the scheme for the first time.
The available incentive of up to 18.2 million won ($14,960) is about 43% higher than 12.7 million won ($10,440) for private passenger cars, reportedly because replacing ICE taxis is more important as they cover, on average, some 440 km (273 miles) per day.
An important new thing is that the government expanded the list of eligible models from just four, locally produced in 2019 (Hyundai Kona Electric, Hyundai IONIQ Electric, Kia Soul EV and Kia Niro EV) to 19 in 2020.
The new list includes imported models like Tesla Model S, Tesla Model 3, Jaguar I-PACE and Nissan LEAF.
It will be quite interesting whether those imported models will make any splash. The Tesla Model 3 has become the top-selling EV model in the country in the first quarter 2020.