Gyeonggi-do, Toll Increase on Three Private Roads Including Ilsan Bridge 'On Hold'

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Gyeonggi Province has postponed toll increases for three private toll roads, including Ilsan Bridge, this year.

On the 1st, Gyeonggi Province announced that it decided to postpone toll increases for three private toll roads managed by the province this year: Ilsan Bridge, the 3rd Gyeongin Expressway, and the Seosuwon-Uiwang Expressway.

This measure is to actively align with the government's price stabilization policies, such as fuel tax reductions and freezing of public utility charges.

According to the implementation agreements signed between Gyeonggi Province and the private operators, tolls on the three private toll roads are adjusted annually reflecting changes in the consumer price index. In particular, this year, rapid inflation has created factors for toll increases.

Accordingly, the private operators submitted the "2022 Toll Adjustment Report" including the toll increase details to Gyeonggi Province, and the province submitted a proposal for hearing opinions on the related matters to the Gyeonggi Provincial Council following the procedures stipulated in the implementation agreements.

Considering the difficult economic conditions for ordinary citizens due to rising oil prices and COVID-19, the province judged that the timing of the toll increase should be delayed and decided to postpone the increase.

As a result of this decision, users of the three private toll roads this year will pay the same tolls as last year without any additional cost burden.