December 27, 2018 10:22
The basic taxi fare in Seoul will increase 21.1 percent from the current W3,000 to W3,800 in February next year (US$1=W1,126). The basic late-night surcharge will also rise 21.7 percent from W3,600 to W4,600.
The Seoul Metropolitan Government announced the new fares on Wednesday.
Fares will rise for the first time since October 2013. The basic fare for jumbo and deluxe taxis will increase by W1,500 to W6,500.
Earlier, the city government had planned to increase the basic late-night surcharge to W5,400 and extend the initial distance from the current 2 km to 3 km.
But the city council did not approve the plan last month and came up with the new changes instead.
The increase could raise the average income for taxi drivers from the current W2.17 million to W2.75 million per month.
That still falls short of the initial target of W2.85 million but is comfortably above the W2.14 million living wage for Seoul, one of Asia's most expensive cities.
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