Seongnam City to Urgently Provide 100,000 Won Oil Price Subsidy for Over 10,000 Commercial Vehicles

Seongnam City Mobilizes Full Support for Livelihood Stability Amid High Oil Prices
Support for 10,517 Commercial Vehicles Including Buses, Taxis, and Trucks
Synergy Expected with “Seongnam Citizen Energy Relief Subsidy” of 100,000 Won per Household

Seongnam City in Gyeonggi Province (Mayor Seong Sangjin) has announced strong additional support measures to address the management difficulties faced by the local transportation industry and to stabilize citizens' livelihoods, in response to the recent sharp increase in international oil prices caused by instability in the Middle East.

Recently, with the rise in international oil prices increasing the fuel costs burden on transportation operators, Seong Sangjin, mayor of Seongnam City, is seen meeting and conversing with a taxi driver on the 16th. Provided by Seongnam City

On April 16, Seongnam City announced that it will urgently provide an oil price subsidy of 100,000 won per vehicle to a total of 10,517 commercial vehicles, including buses, taxis, and trucks operating within the city. This measure is a proactive response to prevent the impact of high oil prices from leading to increased logistics costs, which in turn could threaten consumer prices for citizens.

This support is separate from the existing oil price subsidies provided by the Ministry of Land, Infrastructure and Transport, and will be additionally funded by Seongnam City’s own financial resources. The city is currently preparing the legal basis for this financial support by amending the “Seongnam City Basic Energy Ordinance.” The intention is to mitigate the business burden on the transportation industry caused by rising oil prices and to minimize factors that could lead to price increases due to higher logistics expenses.

The oil price subsidy is a policy designed to partially compensate fuel taxes for transportation operators vulnerable to oil price fluctuations, thereby supporting the stable maintenance of public transportation and logistics services.

This additional subsidy targets a total of 10,517 commercial vehicles licensed for passenger and cargo transportation in Seongnam City and operating local business offices. The breakdown is as follows: 1,287 buses (954 city buses, 292 village buses, and 41 chartered buses), 3,500 taxis (2,519 individual taxis and 981 corporate taxis), and 5,730 trucks (3,459 individual trucks and 2,271 general cargo trucks).

The subsidy amount is 100,000 won per vehicle, totaling 1,051,700,000 won.

Payments are expected to be made for approximately two weeks from May 11 to May 22, 2026, following the amendment of the ordinance at the city council’s extraordinary session.

Seong Sangjin, Mayor of Seongnam City, stated, "The increased burden on transportation operators due to rising oil prices may affect both citizen transportation services and consumer prices," adding, "We expect that this support will contribute to stabilizing transportation services and alleviating the living expenses of our citizens."

Previously, on April 6, Seongnam City announced plans to provide the “Seongnam Citizen Energy Relief Subsidy” to stabilize citizens’ livelihoods in response to the surge in energy prices caused by the crisis in the Middle East.

The subsidy will target approximately 410,000 household heads registered as residents of Seongnam City as of 18:00 on April 6, 2026, with 100,000 won provided per household, totaling 41 billion won. The city is currently working on a supplementary budget and ordinance amendment, and if smoothly approved by the city council, payments are expected to begin in May.

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