Institution and Company Names to be Added at Euljiro4-ga and Yeoksam Stations... Seoul Metro to Launch New Project

Seoul Metro to Launch Paid Station Name Co-Signing Project at 5+ Stations in Second Half of This Year... Expected New Revenue Generation
Winning Bidders' Names to Appear on Subway Station Names for 3 Years... Increased Exposure on Maps and Station Signs

[Asia Economy Reporter Lim Cheol-young] Seoul Metro announced on the 20th that starting in the second half of the year, it will promote the "paid station name co-signage project," which adds the names of institutions or companies alongside subway station names, targeting five or more stations within Seoul Subway Lines 1 to 8. It is expected that this new project will create a new source of revenue.

The paid station name co-signage project was first launched in 2016 to resolve numerous requests from various institutions and companies for secondary station name signage and to discover new revenue sources. Currently, paid station name co-signage is applied at 26 stations (including transfer stations).

The predecessor companies of the corporation, Seoul Metro and Seoul Metropolitan Rapid Transit Corporation, started the paid station name co-signage project in 2016-2017. Since the two companies merged into Seoul Metro, no additional projects have been carried out until now.

The paid station name co-signage project offers a dual benefit: it provides institutions and companies with a credible promotional opportunity and offers subway users additional information through the co-signed secondary station names. Companies and institutions that have already signed station name co-signage contracts are satisfied with the high promotional effect and most actively express their intention to renew contracts, indicating its popularity.

For example, SC First Bank, which signed a contract in 2017 to add a secondary station name at Jonggak Station on Line 1, judged from its own survey that brand awareness increased by about 3%, leading to a contract renewal with Seoul Metro in 2020.

Earlier this year, Seoul Metro conducted a station area survey and assessed demand internally, selecting Yeoksam Station on Line 2 and Euljiro 4-ga Station on Lines 2 and 5 as priority stations for the new paid station name co-signage project starting in the second half of the year. The project will be promoted at five or more stations in total. If there are stations that meet the selection criteria for institutions using secondary names and where additional demand is expected, the target stations will be expanded.

Additionally, companies or institutions wishing to have secondary station name co-signage at other stations can inquire with the relevant department of Seoul Metro before June. Their demand will be considered when selecting stations for bidding.

The paid station name co-signage is decided through an open bidding process. Institutions or companies eligible to bid must be located within 1 km of the target station, with priority given to those within 500 meters. The successful bidder can display their institution name as the secondary station name at the target station for three years and may extend the contract once without re-bidding. If multiple institutions submit identical bids, priority is given in the order of public institutions, schools, hospitals, companies, and multi-use facilities.

Changes and maintenance of station name signage can be discussed and implemented with Seoul Metro within 60 days after contract signing. The costs are borne by the successful bidder. The secondary station name can be displayed on pole sign station name plates, entrance station name plates, platform station name plates, safety door station name plates, single and comprehensive route maps on safety doors, and single route maps inside trains.

Kim Sang-beom, President of Seoul Metro, said, "Through this paid station name co-signage project, we aim to generate new ancillary business revenue to help overcome the corporation's financial difficulties, while also considering public interest elements and planning to expand the project. We hope many institutions and companies seeking high advertising effects at reasonable costs will participate."

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