Gangwon State Intercity and Express Bus Fares to Rise 9%; Half of Routes Disappear

[Financial News, Chuncheon — Kim Gi-seop, Reporter] With the number of intercity bus routes in Gangwon State falling to 186 from 352 before COVID-19, fares for intercity and express buses in the state will rise 9% starting October 1.
Gangwon State said on the 30th that the increase follows MOLIT's adjustment of the fare and rate ceilings for intercity and express buses last August. Bus operators had sought fare increases of 17% for intercity buses and 20.1% for express buses, but the increase was lowered to 9% after considering the results of the cost review and the burden on passengers.
The number of routes operated by intercity bus companies in Gangwon State has fallen to 186, down 47% from before COVID-19. Annual ridership also dropped 40%, from 12.78 million to 7.61 million. With demand lost during the pandemic showing little sign of returning, rising inflation and labor costs, along with the burden of higher fuel prices amid recent instability in the Middle East, have caused operating costs to swell.
Gangwon State explained that the growing inconvenience for local residents is a result of operators cutting routes as profitability declines. The industry expects the fare increase to improve its financial conditions and help maintain employment.
To ease the burden on passengers, operators are also implementing self-help measures, including independently adjusting fares on certain routes. On the popular Chuncheon–Hongcheon County route, passengers will be charged 4,500 won, a 25% discount from the declared fare of 6,000 won. Gangwon State also plans to designate major routes in the state as essential routes and continue developing measures to enhance competitiveness, including improving intercity bus services.
"Intercity buses are failing to make a profit, and an increasing number of routes are being suspended as routes have fallen to about half their pre-COVID-19 level, ridership has dropped 40%, and labor and fuel costs have risen," said Lee Jong-gu, director of Gangwon State's Construction and Transportation Bureau. "We will work closely with the industry so that this fare adjustment leads to improved business conditions, allowing suspended routes to resume service and passenger services to improve."

[email protected] Kim Gi-seop Reporter