Ha Tae-kyung pledges to raise subway free ride age limit to 70... "Financial support has limits"

[Image source=Yonhap News]

[Asia Economy Reporter Naju-seok] Ha Tae-kyung, a presidential candidate from the People Power Party, pledged on the 26th to lead a social consensus to raise the free subway ride age from the current 65 to 70 in order to resolve the subway deficit issue.

On the same day, Ha said, "To solve the nationwide subway deficit problem, I will achieve a social consensus to raise the free ride age, currently set at 65, to 70," adding, "Due to rapid aging, the legal age standard for seniors is already being discussed socially to be raised to 70."

He stated, "During peak commuting hours when passengers are crowded, free rides will be restricted to increase transportation benefits and improve profitability," and "I ask for understanding that seniors aged 70 and over riding with paid fares during commuting hours is a choice to reduce the burden on their grandchildren and to support better welfare."

Additionally, he said, "As much as seniors make concessions, Seoul Metro Corporation should also undertake systematic restructuring and management rationalization."

Ha said, "Through these three measures, we will promote management rationalization of the subway corporation and review the corporation's self-help efforts in the future to determine the scale of government financial support," adding, "If I become president, I will achieve a social consensus to solve the subway deficit caused by free rides and management inefficiency so that the subway properly serves as the 'people's feet.'"

He introduced, "The deficit of Seoul Metro Corporation, which is responsible for Seoul's subway, is at a serious level," and "The cumulative loss from 2016 to 2020 was 3.1495 trillion won." He added, "The biggest cause of the subway deficit is the loss due to free rides," and "In Seoul, from 2016 to 2020, the loss due to free rides was 1.6839 trillion won, accounting for about 53% of the deficit during the same period, more than half."

Ha stated, "By 2030, the population ratio of seniors aged 65 and over will be 25% of the total, about 13 million," and argued, "There is a limit to indefinitely injecting national finances to cover free ride losses. It is more reasonable to gradually increase basic pensions and health support rather than endlessly investing welfare budgets in transportation."