South Korea will delay implementing its system of incentives for low-carbon vehicles until 2020 on worries of its effects on related industries, the country's top economic policymaker said Tuesday.
The incentive system was meant to reduce greenhouse gas emissions by giving benefits to consumers who buy green vehicles and imposing penalties on those buying cars that produce high levels of carbon dioxide. It was initially scheduled for implementation from next year, but the local auto industry has strongly opposed the measure, arguing the system will only work in favor of foreign brands who are relatively ahead in manufacturing low-emission cars.