Sold for a record high of 900 million won... Euljiro 3-ga Station now has two names

Seoul Metro Posts Over 1 Trillion Won Net Loss Last Year
Line 4 Sinyongsan Station Also Renamed 'Amorepacific Station'
Company States "Plans to Continue Expanding Projects"

Euljiro 3-ga Station on Seoul Subway Lines 2 and 3. [Image source=Yonhap News]

[Asia Economy Reporter Park Hyun-joo] Euljiro 3-ga Station on Seoul Subway Lines 2 and 3 will also be known as 'Shinhan Card Station.' Line 4's Sinyongsan Station will be referred to alongside 'Amorepacific Station.'

According to Seoul Metro on the 12th, on the 10th, contracts were signed for the sale of secondary station names for Shinhan Card and Euljiro 3-ga Station, as well as Amorepacific and Sinyongsan Station. The process of adding secondary station names began this month and is expected to be completed by March.

The sale price for the secondary name of Euljiro 3-ga Station was 874 million KRW, the highest amount among contracts so far. The secondary name for Sinyongsan Station was sold for 380 million KRW. The sale price varies depending on factors such as foot traffic and name recognition.

The station naming rights project was promoted to resolve the financial difficulties of the corporation after transportation revenue, the main source of income, sharply declined due to COVID-19. According to Seoul Metro, the net loss for last year was 1.1137 trillion KRW.

Earlier, in August last year, the corporation also sold secondary station names for eight stations including Euljiro 4-ga Station on Lines 2 and 5 and Yeoksam Station on Line 2. Currently, Euljiro 4-ga Station is known as 'Euljiro 4-ga (BC Card),' Yeoksam Station as 'Yeoksam (Centerfield),' and Naebang Station as 'Naebang (Yoojung Art Center).'

In addition, the station naming rights project is underway at 33 stations including Hapjeong Station (Holt Children's Services) and Guro Digital Complex Station (Wonkwang Digital University). Secondary station names can be used for three years and can be extended once. Secondary names can also be displayed on external station signs, platforms, and announcements.

A corporation official said, "Due to the difficult financial situation of the corporation, we are proceeding with the station naming rights project," and added, "We plan to expand the project further in the future."