The signed agreement guarantees loans to convert taxis to CNG in Gangwon Province.
A pioneering agreement in Korea is set to increase the number of taxis operating on CNG in Gangwon Province. Signed last week in Chuncheon City, host city to the 2012 IANGV conference and exhibition, the agreement took place between the Gangwon Credit Guarantee Foundation (GCGF), Provincial Independent Taxi Drivers Council and NGVS, vehicle conversion subsidiary of NGVI. Under the agreement, GCGF will guarantee loans for conversion expense and drivers will be exempt from interest over a qualified payback period.
There are approximately 4,500 independent taxi drivers in Gangwon Province who stand to benefit from this agreement.
Provincial Independent Taxi Drivers Council Leader Mr. Choi Jong-seo emphasized the benefits of the agreement to the self employed taxi drivers. “At present in Korea, CNG is 30% cheaper than LPG and more than 50% cheaper than gasoline. Such savings in fuel expenses will significantly benefit the economic well being of drivers and their families,” he said.
NGVI President, Mr. Kevin Park stated that supporting positive environmentally sustainable transportation measures is what NGVI is all about. “The agreement represents a further step toward a low carbon, green growth Gangwon Province. I’m happy that Gangwon Province stakeholders are recognizing that environmentally sustainable transport will preserve the clean air of the province for generations to come,” he said. The Gangwon Provincial Government has participated in several NGV related initiatives, supporting the ANGVA NGV School, ANGVA 2009 Conference and Exhibition in Donghae City and Chuncheon City’s bid for NGV 2012.
GCGF Chairman, Mr. Kim Ki-seon, Mr. Choi Jong-seo and NGVI President Mr. Kevin Park presented the agreement to the Korean Press on March 25th.
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