Gyeongnam Province Seeks Toll Reduction Plan for Machang Bridge... Forms Expert TF Team by Sector

The Province Bears the Full Discount Amount When Issuing Discount Toll Passes

Panoramic view of Machang Bridge.

[Asia Economy Yeongnam Reporting Headquarters Reporter Park Saeyan] Gyeongsangnam-do has formed a task force of experts from various fields to find ways to reduce toll fees on the Machang Bridge, which has caused significant dissatisfaction among residents due to excessive charges.

On the 8th, Gyeongnam Province announced that it would form a TF team consisting of the province, Changwon City, and experts from various fields to explore ways to reduce the toll fees on Machang Bridge, which currently charges some of the highest tolls nationwide.

Machang Bridge opened in July 2008 and was operated under the MRG (Minimum Revenue Guarantee) system. In 2017, it was restructured to a revenue-sharing model, achieving approximately 176.1 billion KRW in fiscal savings.

The initial toll fee was 2,400 KRW at the time of opening, reduced to 2,000 KRW in 2009, and has been maintained at 2,500 KRW since 2012.

According to the current agreement, the toll fee increases by 500 KRW every eight years. Therefore, the toll for small vehicles, currently 2,500 KRW, is expected to rise to 3,000 KRW in 2022 and 3,500 KRW in 2030.

So far, the province has borne about 95.8 billion KRW in financial support. If the toll increase is not implemented as agreed, the province will have to provide an additional 200 to 350 billion KRW in financial support.

Additionally, the province fully covers the discount amounts when issuing discounted toll tickets, which is expected to increase the actual financial burden on the province.

Accordingly, the province plans to seek ways to reduce the financial burden while alleviating the toll fee burden on residents using Machang Bridge.

The province will form a TF team with Changwon City, private road experts, accounting experts, and others to find various toll reduction measures that residents can feel, such as refinancing through new traffic demand analysis, introducing a flexible toll system during peak commuting hours, and consulting with Changwon City on changing the competent authority.

In particular, according to the agreement, the toll fee is scheduled to increase by 500 KRW starting next year. Therefore, a solution will be sought within this year to prepare alternatives.

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