Passengers using intercity and express buses will face higher transportation costs.
Starting today, the Ministry of Land, Infrastructure and Transport announced that the fare caps for intercity and express buses will increase by 9%. This marks the first adjustment in nearly three years since a 5% increase in July 2023.
Not all bus ticket prices will uniformly rise by 9%. The government has adjusted the 'fare cap' applicable to each route, meaning the actual increase and final fares will depend on the decisions made by transportation companies.
For example, the fare for the express bus from Samcheok to Seoul South has increased from 36,000 won to 39,200 won, an increase of 3,200 won, or approximately 8.9%. The intercity bus for the same route has risen from 29,400 won to 32,100 won, an increase of 2,700 won.
Other routes have also seen fare increases: the intercity bus from Samcheok to Busan has gone up from 11,900 won to 13,000 won, while the fare from Samcheok to Changwon has increased from 9,600 won to 10,400 won. The fare for the route from Samcheok to Jinju has been adjusted from 4,800 won to 5,300 won.
The rationale behind this fare increase includes a decline in ridership and rising transportation costs. The average daily ridership for intercity buses has dropped from 540,000 in 2019, before the COVID-19 pandemic, to 270,000 last year. Similarly, express bus ridership fell from about 83,000 to 58,000 during the same period.
The number of routes has also decreased, with intercity bus routes falling from 3,335 in 2019 to 3,177 last year, a 4.7% decline, while express bus routes dropped from 208 to 164, a 21% reduction.
As ridership declines coincide with rising costs for labor and fuel, the bus industry has requested a more significant fare increase, seeking 17% for intercity buses and 20.1% for express buses.
However, the government decided on a 9% increase after considering cost verification results and the burden on passengers.
In addition to fare adjustments, the Ministry of Land, Infrastructure and Transport plans to designate essential routes to ensure the public's access to regional transportation and will support these routes. The government aims to attract back declining bus ridership through new route development and service improvements.
In contrast to the bus fare increases, recent adjustments in high-speed rail have seen a decrease in prices.
Last month, the integrated operation of high-speed rail led to a reduction in KTX base fares to align with SRT levels, averaging about a 10% decrease. For instance, the standard fare for the Seoul-Busan route dropped from 59,800 won to 54,400 won, a reduction of 5,400 won, while the fare from Yongsan to Gwangju Songjeong decreased from 46,800 won to 42,000 won, a drop of 4,800 won.
* This article has been translated by AI.
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