Bus Fares to Rise

The fares for intercity and express buses are poised to go up next month for the first time in two years and seven months.

The Ministry of Land, Transport and Maritime Affairs said Friday that the fees for intercity buses and express buses would respectively rise by 7.7 percent and 4.3 percent on average, starting from March 2.

“We have frozen the corresponding rates over the past two years and six months, out of consideration for the economic stagnation and the resulting burden on the people,” said a ministry official.

“The hike, however, was inevitable due to the steep rise in transport costs, which was triggered by the soaring oil prices and labor costs.”

The fees for a standard express bus from Seoul to Busan will be increased 600 won to 22,600 won ($21), while the price of tickets for the premium bus will be raised by 900 won to 33,700 won.

With intercity buses, the fares for the Seoul-Yeosu route will be raised from 24,400 won to 27,500 won and from 6,300 won to 6,700 won for the East Seoul-Chuncheon route.

The change, however, will not have a retroactive effect, meaning passengers who reserved tickets before the fares went up will not have to pay extra for the price difference, officials said.

The new rates were a result of a compromise the government reached with the bus companies that had originally demanded a 20.41 percent hike for intercity buses and 6.59 percent for express buses, ministry officials said.

Authorities will also improve the current bus ticketing system so that passengers may book return tickets at all 87 express bus terminals throughout the nation.

Last December, shortly after the presidential election, the ministry increased the fees for water supplies and privately financed highways by 4.9 percent and 400 won, respectively.