Seoul Bus Ridership Drops by 200 Million Due to COVID-19... Any Countermeasures?

Eunju Lee, Vice Chair of the Seoul Metropolitan Council Transportation Committee, and Inho Kim, Chair of the Seoul Metropolitan Council, hold a meeting with the bus industry regarding bus fare increases to find solutions for industry difficulties... Seoul Bus Union Chair and transportation company representatives convey financial challenges due to chronic deficits and propose raising bus fares frozen for five years

[Asia Economy Reporter Park Jong-il] Lee Eun-joo, Vice Chair of the Seoul Metropolitan Council's Transportation Committee (Democratic Party, Nowon 2), visited the office of Seoul Metropolitan Council Chairman Kim In-ho on the 27th along with Park Jeom-gon, Chairman of the Seoul Bus Labor Union, and Cho Jang-woo, CEO of Heungan Transportation under the Seoul Bus Transportation Business Association. They listened to opinions regarding the severe financial situation and difficulties faced by the bus industry due to chronic deficits and discussed issues related to bus fare increases.

The bus industry explained that with the strengthening of social distancing measures due to COVID-19, the number of Seoul bus passengers from January to August this year decreased by about 200 million compared to last year, resulting in a roughly 20% reduction in fare revenue. This has expanded the annual operating deficit to around 250 billion to 300 billion KRW, reaching a level that the bus industry can no longer endure. They argued that a prompt bus fare increase is necessary before both the bus industry and citizens suffer damages.

Chairman Kim In-ho and Vice Chair Lee Eun-joo responded, “We fully understand the position of the Seoul bus industry and express our gratitude for their efforts to provide public transportation convenience to citizens despite difficult circumstances.” They added, “Going forward, it is necessary for the industry and the council to work together to listen to various opinions through public hearings on bus fare increases and to build understanding and consensus among citizens.”

They also stated, “The Seoul Metropolitan Council will devise various measures to help both the bus industry and citizens regain stability.”

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