Battery Fire Fears Are Slowing Korea’s Switch to Electric Cars

South Korea has all the ingredients to be at the front of the electric car revolution: national champions leading the shift in Hyundai Motor Co. and Kia Corp., cheap electricity and abundant charging stations.

Yet EV sales slipped last year for the first time since 2017 — dipping 0.1% to 157,823 units — according to data from the Korea Automobile Manufacturers Association. While high prices and rising interest rates helped cool demand, two of the biggest factors standing in the way of drivers ditching their gasoline cars for an EV are safety concerns and a lack of fast chargers.

According ...