<Korean News> Seoul Metropolitan Area Subway Fares to Increase by 150 Won Starting March 15.

Subway Fares in the Seoul Metropolitan Area to Increase by 150 Won from the First Train on March 15.

Amidst the political turmoil following the impeachment, the previously stalled public fare hikes due to the government's price stabilization policies are now rapidly advancing.

With international crude oil and consumer goods prices soaring recently, the anticipated increase in public transportation fares is expected to further burden the cost of living.

On the 21st, according to relevant agencies, three metropolitan governments in the Seoul metropolitan area and the Korea Railroad Corporation agreed to raise the base subway fare from 1,400 won to 1,550 won starting March 15, based on transportation card usage.

Since January of last year, the four entities held six marathon meetings—three at the director-general level and three at the director level without reaching a conclusion. However, they finally gained the consensus of the Ministry of Land, Infrastructure, and Transport and other relevant ministries, leading to the decision to raise fares.

Each municipality will go through related procedures, such as price committee reviews, before entering the preparation phase. In Seoul, the previous Price Countermeasures Review Committee already passed a proposal to raise subway fares by 300 won, and preparations for the fare increase are complete. Typically, updating terminals and other necessary systems takes about one to two months when public transportation fares are adjusted.

As per the agreement, subway fares in the Seoul metropolitan area will rise from the current 1,400 won (transportation card basis) to 1,550 won. The fares for youth and children using transportation cards will increase by 100 won and 50 won, respectively. For cash payments, general fares will go up by 150 won, youth fares by 150 won, and children's fares by 50 won. For early morning discounts (card), the general fare will increase by 120 won, youth fares by 80 won, and children's fares by 40 won.

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