South Korean experts urge protection against Chinese EV surge

Experts and industry representatives are calling for urgent measures to protect South Korea's domestic automotive industry from the rapid expansion of Chinese electric vehicles (EVs). Data from SNE Research shows that Chinese EV groups, including BYD, Geely, and Chery, held a 22.8% share of the global market (excluding China) from January to August this year, up from 15.3% during the same period last year.

While the United States and the European Union have implemented high tariffs—reaching up to 127.5% and 45.3% respectively—to shield their domestic markets, South Korea currently applies a basic 8% tariff on Chinese passenger vehicles. This disparity has led to concerns that the influx of low-priced Chinese EVs, supported by government subsidies, could weaken the domestic manufacturing base and supply chain.

Proposed countermeasures include expanding tax credits for R&D and production stages to help domestic manufacturers compete without triggering international trade friction. Other suggestions include implementing import quotas on Chinese vehicles and increasing tariffs on imported automotive parts to protect local component suppliers.