Yongin City Imposes Traffic Inducement Charges on 9,700 Facilities

Building Owners' Payments as of Late July

Yongin City in Gyeonggi Province announced on the 5th that it will impose a 'Traffic Inducement Charge' of 7.98824 billion KRW on 9,700 major facilities within the region that cause traffic congestion.

The Traffic Inducement Charge is a levy imposed on facilities with a total floor area exceeding 1,000㎡ (3,000㎡ in eup/myeon areas) under the Urban Traffic Readjustment Promotion Act. Individuals and corporations owning at least 160㎡ of the facility's share are obligated to pay, and the collected charges are used for projects such as expanding public transportation facilities.

The charges imposed by district are as follows: 1,692 cases in Cheoin-gu (1.66925 billion KRW), 5,239 cases in Giheung-gu (4.3975 billion KRW), and 2,769 cases in Suji-gu (2.0924 billion KRW).

The charge period covers from August 1 of last year to July 31 of this year, and the charges are levied on the owners of the respective buildings as of the end of July. The payment period is from the 16th to the 31st of this month.

However, for facilities exceeding 2,000㎡ in total floor area and those owned by local governments, if a traffic reduction implementation plan?including measures such as operating commuter buses and weekday car restrictions?is submitted and implemented for one year, the charge can be reduced.

If the facility has not been used for more than 30 days, is used for residential purposes, or if ownership changes occur during the charge period, owners can receive a reduction or exemption by submitting a report and supporting documents to the transportation department of the relevant district office within 30 days of receiving the notice.

If the payment deadline is missed, a penalty of 1% of the overdue amount will be imposed, and if unpaid again, an additional 0.022% per day of the overdue amount will be charged, up to a maximum of 3% of the overdue amount.

A city official urged, "Please be mindful to pay the charges within the deadline to avoid any disadvantages."

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