'30% Decrease in Passengers' Pohang City Implements Unified Fare System for Regular and Seat Buses... "Adjusting Timing for Future Fare Increases"

Abolition of Seat Bus Fare System Starting June 1

[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Jae-ho] Pohang City announced on the 17th that it has decided to freeze bus fares considering the burden on citizens despite the decrease in passengers due to the spread of COVID-19 and the resulting bus operation deficits.

Pohang City's bus fare has remained unchanged since it was raised from 1,200 won to 1,300 won in 2016 (based on the regular fare), an increase of 100 won.

Last year, bus transportation revenue decreased by about 8.07 billion won compared to 2019, and the number of bus users also sharply dropped by 30%, from about 24 million to 17 million.

Although the decrease in transportation revenue has caused serious operational deficits for bus companies, Pohang City stated that it will not consider fare increases for the time being, as citizens' economic conditions have become more difficult due to COVID-19. However, the city plans to review the amount and timing of any fare increase while monitoring the stabilization of COVID-19.

Additionally, starting June 1, the bus fare system, which was previously divided into general bus fares and seat bus fares, will be changed to a single fare system. This change is expected to reduce the fare burden for residents in outlying (eup/myeon) areas and improve accessibility to bus services in urban areas.

Shin Gang-su, head of Pohang City's Public Transportation Division, explained, "Although there are many reasons for fare increases such as operational deficits due to the decrease in passengers last year, we decided to freeze bus fares to minimize the burden on citizens caused by COVID-19."

He added, "Until now, citizens in outlying (eup/myeon) areas have used buses at relatively higher fares, but since the fare will be lowered to the level of city buses, we expect public transportation use among citizens to become more active."