Chungnam Intercity Bus Sales Plummet 40% Compared to Last Year Due to COVID-19

[Asia Economy Reporter Hyunseok Yoo] Due to the COVID-19 pandemic, intercity bus companies in Chungnam Province have experienced a sharp decline in performance as the number of passengers plummeted.

According to Chungnam Province on the 22nd, the sales of five major intercity bus companies in the province (Geumnam, Chungnam, Hanyang, Samheung, and Jungbu Express) decreased by more than 41% in the first half of the year compared to last year.

As of May, the cumulative sales of these five companies this year amounted to 47 billion KRW, a decrease of 32.9 billion KRW compared to 80.1 billion KRW during the same period last year.

Before the outbreak of COVID-19, sales in January reached approximately 16.81 billion KRW, which was an increase of 1.84 billion KRW, or 12.4%, compared to last year.

However, the situation worsened after the first confirmed COVID-19 case in the province was reported in Gyeryong in February. Sales in March recorded 11.2 billion KRW, a 66.6% decrease compared to the same period last year. Additionally, sales in April and May also sharply declined by 60.4% and 51.8%, respectively, compared to the previous year.

Chungnam Province plans to support the local transportation industry, which is facing a management crisis, by providing 30 billion KRW in emergency management stabilization funds.

This content was produced with the assistance of AI translation services.