MOCT (Ministry of Construction & Transportation) will introduce an oil subsidy card system for cargo truckers. MOCT plans for the new system with LG and SK Corporation through a special LG issued credit card for trucker usage only.
According to MOCT, truckers will make monthly and quarterly paperwork a thing of the past because the card will facilitate automatic oil price subsidy processing. It will also offer truckers better oil prices; they will get a 100.24 won per liter reduction thanks to subsidies, and they will get a further 15 won per liter discount for buying from SK, for a total savings of 115.24 won per liter..
One official at MOCT said, "LG Card will take care of promotions, and LG Card, SK Oil, and the Post Office will process applications for the new card," and added, "The new system will go into effect between March 8~10." at March 4.
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