The city had been pushing to increase its subway and bus fares by up to 400 won (US$0.31) starting in late April to cope with growing budget deficits connected with public transportation services.
The reversal of the plan came as President Yoon Suk Yeol pledged to freeze railroad and other public utility fees in the first half of the year to help ease people’s economic burdens.
Yoon also called for regional governments to join efforts to stabilize public utility fees.
“As part of a response to the president’s remarks, the city has decided to readjust the timing of fare hikes,” a city official said.
The official did not provide exactly when during the second half the fare hikes will be made, saying only “fare hikes themselves are unavoidable under the current circumstances.”
Source: Yonhap News Agency