How Much Will Tolls on Private Roads in Gyeongnam Province Decrease in the New Year?

Machang Bridge Toll Freeze and Geoga Bridge 20% Discount

Park Ildong, Director of the Transportation and Construction Bureau of Gyeongsangnam-do, is announcing the 2023 toll discount plan for private roads. / Photo by Ryeong Lee ryeong@

[Asia Economy Yeongnam Reporting Headquarters Reporter Lee Seryeong] Gyeongsangnam-do plans to reduce toll fees on private investment roads starting January 1, 2023.

On the 22nd, Gyeongnam Province held a briefing at the provincial office and announced that from the first day of the new year, toll fees for small and medium-sized vehicles passing through the Geoga Bridge on holidays will be reduced by 20%.

The toll for small vehicles will decrease from 10,000 won to 8,000 won, and for medium vehicles from 15,000 won to 12,000 won.

Large and extra-large vehicles have been receiving a 5,000 won reduction since January 1, 2020, and light vehicles are charged half price according to existing policies.

Park Ildong, Director of the Transportation and Construction Bureau, said, “This decision was made anticipating increased traffic volume due to shared profits from refinancing private investment funds and the effect of toll discounts. We will pilot holiday discounts for one year and gradually expand them if traffic volume increases.”

The province explained that refinancing under the basic plan and implementation agreement for private investment projects has saved 2.9 billion won annually, totaling 86.9 billion won in fiscal savings.

To manage the road system and traffic network of Geoga Bridge, the province plans to propose to the government the necessity of upgrading it to an expressway and will collaborate with Busan City, the joint competent authority, to achieve this.

Regarding Machang Bridge, toll fees planned to increase this year under the current implementation agreement will be frozen.

Along with Changwon City and the project operator, plans are underway to introduce a flexible toll system during short-term commuting hours.

The private road TF team, operating since last September, identified improvements for Machang Bridge operations, and the province plans to negotiate with the project operator to reduce financial burdens.

At the five-year mark since the existing implementation agreement, a revised agreement addressing changes and necessary improvements will be prepared and negotiations with the project operator will proceed.

Director Park stated, “Along with short-term discounts, we are pursuing long-term measures to reduce tolls to the level of public roads. We will do our best to enhance transportation convenience for residents.”

He added, “Through a service commissioned to improve the private road system proposed by the province, we will review the issues and solutions related to the two bridges with the government to improve the operational system and find ways to reduce financial burdens.”

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