KTX Fare To Be Between 45,000-50,000 Won

A fare for the Korea Train Express (KTX), which will open in April 2004, is expected to rise by 10 percent. Passengers will be able to enjoy the Gyeongbu and Honam High Speed Rail services at both the Seoul and Yongsan stations.

The Korea National Railroad (Korail) announced on Sunday that it would raise the KTX fare in line with a 10 percent fare increase in the Saemaul express. The KTX fare was decided to be 1.35 times higher than that of the Saemaul train.

“The fare will be decided at a level that guarantees the highest demand and profit,” explained Yeom Jung-sil, Director of Korail. “For those aims, the KTX fare should be 1.35 times higher than that of Saemaul.”

Accordingly, the fare for the Gyeongbu Railroad linking Seoul to Busan would be between 45,500 won and 50,000 won. Fares for other services will be adjusted to reflect the raise in Saemaul fare.

Korail is examining whether to impose a value added tax on the fare, which was requested by the Ministry of Finance and Economy. The final decision on the fare increase is expected to come next month at the latest.

For the convenience of passengers, Korail has decided to provide the Gyeongbu and Honam High Speed Rail services at both Seoul and Yongsan stations.

Korail is also considering offering the KTX service at Yeongdeungpo station for passengers living in Yangcheon-gu and Gangseo-gu in Seoul.

Jae-Seong Hwang jsonhng@donga.com