Seoul: Electric vehicle (EV) charging costs will be reduced by up to 15 percent during afternoon hours on weekends starting this week, the climate ministry said Tuesday. The initiative aims to encourage EV usage by offering financial relief to EV owners during peak weekend hours.

According to Yonhap News Agency, the reduction in charging fees will be supported by a 50 percent rate discount on electricity used at 94,000 private home-use chargers and 13,000 public fast chargers between 11 a.m. and 2 p.m. on weekends and public holidays. This discount will facilitate a 12-15 percent decrease in EV charging costs, with availability spanning March to May and September to October.

Reflecting the lower electricity rates, charging costs for home-use chargers will experience a reduction of 48.6 won per kilowatt-hour (kWh). Meanwhile, public fast chargers will offer discounts of 48.6 won on Saturdays and 42.7 won on Sundays and public holidays, providing a significant cost-saving opportunity for EV users.

"Some private charging operators are also expected to participate in the discount program, and we will encourage further participation by disclosing the list of participating companies," the ministry stated, indicating a broader industry collaboration to support the initiative.