Earlier this week we told you that South Korea had implemented new fuel efficiency and carbon dioxide emission standards in our article South Korea outlines efficiency targets. However, will these new standards benefit the Korean car manufacturers?
From 2012, 30 per cent of cars sold in Korea by domestic automakers must have either an average fuel efficiency rate of 17km/l or emit less than 140g/km of CO2. From 2015, all cars sold in Korea must meet these requirements.
The standards, which are more stringent than those in the US but slightly more lenient than those in the European Union, will pose a huge burden to Korean car makers according to an editorial in The Chosun Ilbo. It suggests that the average fuel efficiency rate of Korean-made cars is 11.6km/l, with average emissions at 188g/km – way behind the new rules. In fact, only three vehicles manufactured by Hyundai and Kia – the Morning sub-compact as well as the Verna and Pride diesel compacts – currently meet the new standards.
What’s more is that Korean car makers are deemed to be well behind their rivals in advanced countries when it comes to developing green cars, with Hyundai only recently able to roll out an LPG hybrid model.
It states that 40 per cent of cars made in Korea are exported to the US and Europe and if the car makers fail to meet the standards they will face fines and not be able to ship their cars overseas. China for example, is showing signs of devising an even more stringent regulation with a fuel efficiency rate in the region of 17.9km/l.
The editorial calls for Government support and asks Korean customers to change their penchant for large cars. It also asks the car makers to realise the urgency of the situation and push to meet new targets or they may have no future.
