"Subway Station Names for Sale": Seoul Metro Opens Bidding for Station Name Notation Rights at Seongsu, Jonggak, and More

First Bidding for Seven Stations Since System Overhaul
Enhancing Public Interest and Fairness in Station Name Notation Rights

Seoul Metro announced on August 18 that it will hold a paid bidding process for station name notation rights at seven stations, including Seongsu, Jonggak, and Euljiro 4-ga, for the first time since improving its system to enhance public interest. The bidding will begin on August 19 and close on August 29.

Example of station name notation. Provided by Seoul Metro.

‘Station name notation’ refers to the practice of displaying a company or institution name in parentheses next to or below the subway station name, in both Korean and English as a rule. The co-listed name will be reflected on a total of eight types of signs and announcements, including pole signs, entrance station name plates, platform and safety door station name plates, and single-line route maps inside trains.

The corporation has been pursuing revenue diversification due to increasing financial burdens caused by fare structures set below cost and transportation welfare expenses such as free rides. The paid station name notation business, which began in 2016, is part of these efforts. After controversy over the public nature of the system arose last year, the company completed improvements in July this year, including quantifying the review criteria.

Under the revised standards, only institutions that score 70 points or higher by combining quantitative (70 points) and qualitative (30 points) evaluations in the first stage are eligible to bid. In the second stage, the institution with the highest bid is selected as the successful bidder.

The stations open for bidding this time are: ▲Jonggak (Line 1) ▲Seongsu (Line 2) ▲Dongnimmun and Sinsa (Line 3) ▲Mapo (Line 5) ▲Sujin (Line 8) ▲Euljiro 4-ga (Lines 2 and 5), for a total of seven locations. Participating institutions must be located within a 1-kilometer radius of the station (within Seoul city limits; within 2 kilometers for areas outside the metropolitan area). The successful bidder may use the co-listed name for three years, with a one-time renewal (three years) permitted.

Currently, 37 stations operate with co-listed names, and the promotional effect has been proven, as the contract renewal rate for stations whose contracts expired this year reached 100%. In the case of Gangnam Station, the rights were awarded for 1,111,000,000 won in October last year.

Son Byunghee, Head of Strategic Business at Seoul Metro, stated, “With these system improvements, we have been able to enhance public interest and ensure fair procedures. The station name notation project not only helps improve the corporation’s financial soundness, but also boosts corporate brand value. We hope that many institutions and companies will be able to leverage symbolic station names at reasonable costs.”