Starting this year, the ‘light green license plate’ system to identify corporate vehicles has been implemented.
Approximately 1,600 vehicles across the country were found to have light green license plates.
Starting last month, business vehicles worth more than 80 million won that are newly or changed registered by public or private corporations must have a light green license plate.
This is because there has been a series of criticisms that there are many cases where expensive luxury imported cars are purchased in the name of a corporation and then used for personal purposes.
The authorities predicted that about 20,000 corporate vehicles would be registered each year.
Last January, the number of corporate passenger vehicles with light green license plates was 1,600, which was less than one-tenth of the forecast.
On the other hand, last year, the number of registered corporate passenger vehicles worth over 300 million won per vehicle increased by nearly 60% compared to the previous year.
The article said that due to this phenomenon, there is analysis that people rushed to purchase to avoid the light green license plate that will be implemented this year.