Ministry of Land, Infrastructure and Transport announces measure to affix a different colored license plate on business-owned cars.
A sample of a light green license plate, which will be affixed to company-owned cars worth more than 80 million won ($59,799), is held up by a Ministry of Land, Infrastructure and Transport (MOLIT) official. MOLIT said it will pre-announce the amendment on Oct. 23, and implement it starting Jan. 1, 2024. The revision is intended to prevent business owners from evading taxes by purchasing luxury supercars as fleet vehicles and using them for personal use. A fleet vehicle is a type of car that is owned or leased by a business. [YONHAP]
![A sample of a light green license plate, which will be affixed to company-owned cars worth more than 80 million won ($59,799), is held up by a Ministry of Land, Infrastructure and Transport (MOLIT) official. MOLIT said it will pre-announce the amendment on Oct. 23, and implement it starting Jan. 1, 2024. The revision is intended to prevent business owners from evading taxes by purchasing luxury supercars as fleet vehicles and using them for personal use. A fleet vehicle is a type of car that is owned or leased by a business. [YONHAP]](https://img4.daumcdn.net/thumb/R658x0.q70/?fname=https://t1.daumcdn.net/news/202311/02/koreajoongangdaily/20231102184055562xznr.jpg)