Politics

South Korea mulls private car ban if oil prices surge

South Korea's finance chief said a rotating vehicle ban could include private cars if global oil prices rise sharply, to ensure stable supply.

South Korea mulls private car ban if oil prices surge

Image: koreatimes.co.kr

South Korea's Deputy Prime Minister and Minister of Economy and Finance, Choi Sang-mok, stated on March 28, 2026, that the government is considering extending its mandatory rotating vehicle operation ban to privately owned cars if global oil prices surge significantly. The measure is intended as a contingency plan to ensure a stable domestic oil supply.

The existing system, which applies to public sector vehicles and vehicles owned by public institutions, mandates that they refrain from operating on one designated weekday per week based on the last digit of their license plate. Choi indicated that applying this system to private vehicles would be a last-resort measure, triggered only if international oil prices reach a level that severely threatens supply stability, though a specific price threshold was not confirmed.

The announcement comes amid ongoing global energy market volatility. The government emphasized that such a policy would be implemented only after thorough public discussion and with sufficient advance notice to minimize citizen inconvenience. The finance ministry is reportedly preparing a range of measures to manage potential oil price shocks.

📰 Source:
koreatimes.co.kr →
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