Seoul: Subway fares in the capital area will increase by 150 won (US$0.10) to 1,550 won sometime in the first half of the year, according to the Seoul metropolitan government Monday. The fare hike decision was made in collaboration with the local governments of Seoul, Gyeonggi Province, and Incheon, along with the Korea Railroad Corp., during a meeting earlier this month.
According to Lao News Agency, subway fares were previously increased from 1,250 won to 1,400 won in October 2023. The Seoul government had initially announced a further 150 won increase to take place in 2024, but this was delayed due to efforts to stabilize prices. A Seoul government official stated that a consensus was reached at an interagency meeting to proceed with the fare increase, highlighting the need to address the subway’s financial deficit. The official emphasized concerns that postponing the fare hike could lead to further delays.
The fare increase is anticipated to be implemented “in the first half of the year,” though procedural issues must be resolved beforehand.