Merger of subway operators

Seoul Mayor Park Won-soon talks about a plan to merge the city’s two subway operators — Seoul Metro and Seoul Metropolitan Rapid Transit Corp. — by 2016 during a press conference at City Hall, Wednesday. The planned merger is aimed to reduce the debts of the two firms, estimated at 4.6 trillion won ($4.17 billion), and enhance efficiency in subway operation. Park said there will be no layoffs, but some of the existing staff will change jobs. / Yonhap