When the owner of a Volkswagen ID.5 checked his insurance renewal quote, he had to do a double take. Despite another year of accident-free driving, his annual premium jumped from 430,000 won ($286) to 700,000 won. “Has anyone else's insurance gone up this much?” wrote the driver, who is in his late 40s, in an online forum for electric vehicle (EV) owners. Another forum user, who is waiting on a delivery of a newly ordered EV, said the insurance quote alone gave him second thoughts. “I was told it would cost 300,000 to 400,000 won more than my gasoline car,” he wrote. “I guess I’ll have to make up for it through savings on charging and vehicle taxes.” For many EV owners in Korea, those experiences are becoming increasingly familiar. As EVs gain market share in the country — helped by lower running costs, government subsidies and a growing range of models — many drivers say unexpectedly high insurance premiums are eroding much of the financial advantage of switching from gasoline-powered cars. According to the Ministry of Land, Infrastructure and Transport, 220,177 new EVs