Tradeoffs between the Time and Cost of Electric Vehicle Charging in Korea

Abstract

We explore how varying charging costs and speeds shape the decisions of electric vehicle (EV) owners in South Korea, a setting challenged by dense urban environments and limited charger expansion. Drawing on survey responses from 1,600 EV users in July 2023 and 2024, we employ logistic regression across both grouped and individual cost-speed scenarios. Our results indicate that each 1 KRW shift in price can lead to a 0.2-0.4% change in the likelihood of choosing a particular charger type. Although respondents generally favor slow charging-especially at home-this preference diminishes as cost gaps narrow, revealing a material balance between affordability and speed. These findings highlight the need for tailored pricing and infrastructure strategies to manage local charger usage efficiently. Policymakers and industry stakeholders can leverage these insights to inform infrastructure investments and encourage balanced utilization of both slow and fast charging options in areas with varying charger availability.

Keywords: Korea, electric vehicles, charging, cost, speed, tradeoff, willingness-to-pay Highlights