Geumcheon-gu Imposes 9,317 Traffic Inducement Charges Worth 12.7 Billion Won in 2023

Imposed on facilities with a total floor area of 1,000㎡ or more, payment due by October 31... Payment obligors are owners as of July 31, 2023... Up to 3% surcharge applied if not paid by the deadline

Geumcheon-gu (Mayor Yu Seong-hoon) announced that the regular traffic inducement charge for 2023 has been finalized and billed.

This year's regular charge covers 9,317 cases amounting to 12.7 billion KRW, which is an increase of 265 cases and 127.01 million KRW compared to last year.

The traffic inducement charge is imposed every October under the 「Urban Traffic Readjustment Promotion Act」 on owners with ownership shares of 160㎡ or more within facilities with a total floor area of 1,000㎡ or more that cause traffic inducement, based on the principle that the cause bears the cost.

Payees with reasons for exemption can apply for adjustments by submitting a report and supporting documents to the Geumcheon-gu Traffic Administration Division within 30 days from the date of receiving the bill if the facility is unused or used as officetel residence, or within 10 days in case of ownership changes during the billing period (pro-rata calculation application).

The liable payee is the owner of the relevant building as of July 31 of this year. The payment deadline is October 31, and payments can be conveniently made by visiting a nearby bank, using virtual accounts, or electronic payment methods.

Yu Seong-hoon, Mayor of Geumcheon-gu, stated, “If the traffic inducement charge is not paid by the deadline, a maximum surcharge of 3% will be imposed, and disadvantages such as real estate seizure may occur, so please make sure to pay within the deadline.”

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