Seongnam City Imposes 9.408 Billion KRW Traffic Inducement Charges

Seongnam City Hall Panorama

[Asia Economy (Seongnam) = Reporter Lee Young-gyu] Seongnam City in Gyeonggi Province has imposed a total of 9.4 billion KRW in 'Traffic Inducement Charges' on owners of major facilities in the city that cause traffic congestion.

On the 14th, Seongnam City announced that from August 1 last year to July 31 this year, it imposed 9.408 billion KRW (10,712 cases) in traffic inducement charges on owners holding more than 160㎡ shares of facilities with a total floor area of 1,000㎡ or more.

The traffic inducement charge is a tax collected under Article 36 of the Urban Traffic Readjustment Promotion Act and is used for projects such as the expansion of public transportation facilities.

By district, Bundang-gu, which has many large buildings such as Hyundai Department Store Pangyo Branch, had the highest amount with 6,205 cases totaling 7.454 billion KRW. This was followed by Jungwon-gu with 2,093 cases and 648 million KRW, and Sujeong-gu with 2,414 cases and 1.306 billion KRW.

However, the city allows facilities exceeding 2,000㎡ in total floor area and those owned by the national or local governments to submit a traffic volume reduction program implementation plan, including commuter bus operation and weekday car restrictions, and if implemented for one year, the traffic inducement charge can be reduced by up to 40%.

The payment period for the traffic inducement charge is from the 15th to the 31st of this month. Payments can be made at financial institutions nationwide or via virtual accounts, Wetax, etc.

If the payment period is missed, an additional surcharge of 3% of the imposed amount will be added.

Last year, Seongnam City imposed traffic inducement charges totaling 9.093 billion KRW on 10,232 facility owners.

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