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SEOUL, Feb. 10 (Yonhap) -- Seoul will work to expand the distribution of electric and hydrogen vehicles as part of efforts to achieve carbon neutrality and revise the industrial electricity rate system to help reduce the burden on private firms, the climate minister has said.

The government plans to transform the current automobile distribution system centered on internal combustion cars to a system centered around more eco-friendly cars, such as electric vehicles (EVs) and hydrogen cars, Climate Minister Kim Sung-hwan said during a press conference held at the government complex in the central city of Sejong on Monday.

"Last year, EVs and hydrogen cars accounted for around 220,000 units of new cars. We aim to expand the proportion of newly sold eco-friendly cars to 300,000 units this year and around 650,000 to 700,000 units by 2030," he said.

Furthermore, the government will devise a comprehensive plan aimed at electrifying other transportation and machinery, including ships, bicycles, construction equipment and farming equipment, he added.

Climate Minister Kim Sung-hwan (L) speaks at a press conference at the government complex in the central city of Sejong on Feb. 9, 2026, in this photo provided by his office. (PHOTO NOT FOR SALE) (Yonhap)

Regarding the government's energy road map, Kim said the climate ministry recently held a kick-off meeting for devising the 12th basic plan for electricity supply and demand for the 2026-2040 period.

"The core of the 12th basic plan will be how the country will phase out of coal-fired power plants," he stressed, reaffirming the government's goal to stop coal power generation by 2040 and expand the use of renewable energy to achieve carbon neutrality by 2050.

Seoul recently finalized its plan to construct two new nuclear reactors and a small modular reactor by 2038 at the latest in line with the target.

Kim said the 12th power supply plan is also expected to include ways to adopt different electricity rate systems for different regions to help the country achieve more balanced regional growth by attracting private companies to southern regions where they may enjoy cheaper energy prices.

Under the new system, regions outside the greater Seoul area will likely have cheaper electricity rates as South Korea aims to establish high-voltage direct current (HVDC) infrastructure along the west coast before 2040, before extending it to the south and east coasts to form a U-shaped energy corridor covering the entire nation before 2050.

The system will also help companies lower their burden from industrial electricity rates, which were hiked in October 2024, the minister explained, noting that his ministry plans to push for a revision to the industrial electricity rate system in the first quarter.

"Our industrial electricity rates are cheaper than Europe's but more expensive than China's … There is definitely a need to lower the companies' burden deriving from industrial electricity rates."

Additionally, the government will work to boost Korea's competitiveness in the renewable energy, nuclear power and power grid sectors for both domestic consumption and exports, Kim said.

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