Busan City Offers 20% Discount on Toll Fees for Passenger and Mid-Size Cars on Geoga Bridge!

Busan City Hall.

[Asia Economy Yeongnam Reporting Headquarters Reporter Hwang Du-yeol] Busan City will pilot a toll discount on the Geoga Bridge starting January 1 to expand regional exchanges between Busan and Gyeongnam, and to revitalize the regional economy and tourism.

The discount applies to small cars (passenger cars) and medium-sized cars, each receiving a 20% discount.

Currently, the toll fees for Geoga Bridge are 5,000 KRW for light vehicles, 10,000 KRW for small cars (passenger cars), 15,000 KRW for medium-sized cars, 20,000 KRW for large vehicles, and 25,000 KRW for extra-large vehicles.

Since the opening, light vehicles have received a 50% discount based on the small car rate. Large vehicles have been discounted by 5,000 KRW each since January 1, 2020, reducing tolls from 25,000 KRW to 20,000 KRW for freight transport operators, and from 30,000 KRW to 25,000 KRW for extra-large vehicles to ease their toll burden.

This Geoga Bridge toll discount applies a 20% discount rate to small cars (passenger cars) and medium-sized cars, which had not previously received toll discounts.

Small cars will be discounted from 10,000 KRW to 8,000 KRW, a 2,000 KRW reduction, and medium-sized cars from 15,000 KRW to 12,000 KRW, a 3,000 KRW discount.

However, the discount applies only on holidays such as Saturdays, Sundays, and public holidays when traffic volume is higher than on weekdays, and weekdays are excluded from the discount considering the financial burden on Busan and Gyeongnam.

Regarding this, after a one-year pilot operation, the plan is to supplement and implement improvements in the first half of 2024.

A Busan city official stated, “The financial burden from the toll discount will be supplemented using approximately 87 billion KRW of shared profits secured through the refinancing of low-interest funds for Geoga Bridge in December last year, and it is expected that the financial burden will ease as traffic volume increases.” He added, “In the long term, we are jointly working with Gyeongnam Province to promote the upgrade of Geoga Bridge to a highway-level expressway to lower tolls to highway levels.”

Mayor Park Hyung-jun said, “As citizens are facing real difficulties due to prolonged COVID-19 recession, high oil prices, high inflation, and high interest rates, I hope this Geoga Bridge toll discount will provide some comfort and support.”

Since March 15, Busan City has been the first nationwide to implement the ‘Paid Road Consecutive Toll Discount System,’ which discounts 200 KRW at each toll booth for vehicles consecutively passing through paid roads within Busan.

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