Jin Air will raise the fares for its domestic flights from Oct. 15, the low-cost carrier said on Monday. It is the last among the nation's seven airlines to hike its prices over the last three months.

Under Jin Air's new pricing policy, a flight between Gimpo and Jeju will jump from W58,800 to W65,600 on weekdays, and from W67,600 to W76,000 on weekends, up 11.6 percent and 12.4 percent, respectively (US$1=W1,121). During peak seasons, the same fare will climb 15.7 percent.

But the price hikes do not apply to flights departing from Gimpo after 4 p.m. or leaving Jeju before 10 a.m. on weekdays.

Eastar Jet, a low-budget airline, led the recent price hikes when it increased its fares by an average 5.4 percent on July 1 for peak seasons. Korean Air and Asiana Airlines subsequently jumped on the bandwagon by increasing their prices by 9.9 percent each.