By Kim Rahn
Subway and bus fares in Seoul and Gyeonggi Province may increase by 200 won to 1,250 won ($1.18) next year, the Seoul Metropolitan Government (SMG) said Thursday.
The city government plans to submit a proposal for an increase of the basic fare to Seoul Metropolitan Council by as early as next month in an effort to address the rising debt of mass transit operators.
"Public transportation fares in Seoul, Incheon and Gyeonggi Province increase together because buses and subways are linked," an SMG official said. "Working-level officials in the three municipalities have recently agreed on the need for a price hike."
The official said it has not been decided exactly how much and when to raise the fares because the three local authorities need to discuss these issues in order to find ways of jointly implementing the price hike. But there is speculation that a 200-won increase will occur early next year.
He said that a fare increase is inevitable because public transport operators in the regions have suffered losses for long. The capital's two subway operators, Seoul Metro and Seoul Metropolitan Rapid Transit Corp., had combined net losses of 493.6 billion won in 2011, 371.5 billion won in 2012 and 417.2 billion won in 2013.
"The city government also has to cover the losses of bus operators according to the quasi-public transport system, and the annual losses amount to 300 billion won," he said.
However, it remains to be seen whether the fare increase will go ahead as planned because a backlash is anticipated from citizens who use the two forms of public transport.
"Some city council members may oppose the hike due to the burden put on citizens. We may discuss how much to increase the fare with the council," the official said.
The last fare hike was in 2012 when the basic fare for buses and subways rose from 900 won to 1,050 won.
Besides subway and bus fares, the central and local governments are moving to increase fees for other public services.
Rep. Kim Sang-hee of the main opposition New Politics Alliance for Democracy disclosed an internal document from the Ministry of Strategy and Finance, which shows that the government is considering raising toll fees on the nation's expressways by 4.9 percent before the end of this year.
If this goes ahead, it will be the first rise in three years since the 2.9-percent hike in November 2011.
Korea Water Resources Corp. CEO Choi Gye-woon also recently said that current fees for tap water do not cover the costs of water treatment processing, hinting at another possible price hike.
Subway and bus fares in Seoul and Gyeonggi Province may increase by 200 won to 1,250 won ($1.18) next year, the Seoul Metropolitan Government (SMG) said Thursday.
The city government plans to submit a proposal for an increase of the basic fare to Seoul Metropolitan Council by as early as next month in an effort to address the rising debt of mass transit operators.
"Public transportation fares in Seoul, Incheon and Gyeonggi Province increase together because buses and subways are linked," an SMG official said. "Working-level officials in the three municipalities have recently agreed on the need for a price hike."
The official said it has not been decided exactly how much and when to raise the fares because the three local authorities need to discuss these issues in order to find ways of jointly implementing the price hike. But there is speculation that a 200-won increase will occur early next year.
He said that a fare increase is inevitable because public transport operators in the regions have suffered losses for long. The capital's two subway operators, Seoul Metro and Seoul Metropolitan Rapid Transit Corp., had combined net losses of 493.6 billion won in 2011, 371.5 billion won in 2012 and 417.2 billion won in 2013.
"The city government also has to cover the losses of bus operators according to the quasi-public transport system, and the annual losses amount to 300 billion won," he said.
However, it remains to be seen whether the fare increase will go ahead as planned because a backlash is anticipated from citizens who use the two forms of public transport.
"Some city council members may oppose the hike due to the burden put on citizens. We may discuss how much to increase the fare with the council," the official said.
The last fare hike was in 2012 when the basic fare for buses and subways rose from 900 won to 1,050 won.
Besides subway and bus fares, the central and local governments are moving to increase fees for other public services.
Rep. Kim Sang-hee of the main opposition New Politics Alliance for Democracy disclosed an internal document from the Ministry of Strategy and Finance, which shows that the government is considering raising toll fees on the nation's expressways by 4.9 percent before the end of this year.
If this goes ahead, it will be the first rise in three years since the 2.9-percent hike in November 2011.
Korea Water Resources Corp. CEO Choi Gye-woon also recently said that current fees for tap water do not cover the costs of water treatment processing, hinting at another possible price hike.
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