Hyundai IONIQ 5 2023 5-year cost to own
Based on South Korea regulations
Assumptions
5-year total cost
₩28,574,077
Monthly average ₩476,235|Cost per km ₩381/km| Depreciation | ₩13,500,000 | 47% |
|---|---|---|
| Charging | ₩5,048,077 | 18% |
| Insurance | ₩5,500,000 | 19% |
| Vehicle tax | ₩676,000 | 2% |
| Maintenance | ₩3,850,000 | 13% |
| Total | ₩28,574,077 |
Vehicle tax: engine-based rates with age reduction (flat rate for EVs) · Insurance uses a reference range by age band, not a quote
Cumulative cost by year
View data table
| Year | Depreciation | Charging | Insurance | Vehicle tax | Maintenance | Total |
|---|---|---|---|---|---|---|
| 1 | ₩3,000,000 | ₩1,009,615 | ₩1,100,000 | ₩152,100 | ₩650,000 | ₩5,911,715 |
| 2 | ₩3,000,000 | ₩1,009,615 | ₩1,100,000 | ₩143,650 | ₩800,000 | ₩11,964,981 |
| 3 | ₩3,000,000 | ₩1,009,615 | ₩1,100,000 | ₩135,200 | ₩800,000 | ₩18,009,796 |
| 4 | ₩2,500,000 | ₩1,009,615 | ₩1,100,000 | ₩126,750 | ₩800,000 | ₩23,546,162 |
| 5 | ₩2,000,000 | ₩1,009,615 | ₩1,100,000 | ₩118,300 | ₩800,000 | ₩28,574,077 |
The results are estimates based on public statistics and may differ from actual transaction prices and real costs. See how we calculate
Frequently asked questions
Q.What is included in the 5-year TCO?
Depreciation, fuel or charging, insurance reference cost, vehicle tax with age reduction, and maintenance by cost grade.
Q.How is Korean vehicle tax calculated?
Engine size × rate (80/140/200 KRW per cc) plus 30% education tax, reduced 5% yearly from year 3 up to 50%. EVs pay a flat amount.
Q.Why show cost per km?
Cost per km makes cars of different classes comparable and shows what each kilometer actually costs you.