Gyeonggi Province Freezes Tolls on Three Privately-Financed Roads...Second Measure Following Bus Fare Freeze

[Suwon Ilbo=Reporter Park No-hun] To ease the burden on ordinary citizens' livelihoods, Gyeonggi Province has decided to freeze tolls on three privately-financed roads managed by the province, following the bus fare freeze.

According to the province on the 31st, for the second consecutive year following last year, Gyeonggi Province will not raise tolls on three privately-financed roads managed by the province: the Ilsan Grand Bridge, the Third Gyeonggi-Incheon Expressway, and the Seo-Suwon to Uiwang Expressway.

This is the second public utility price freeze measure following the bus fare freeze in February.

Gyeonggi Province explained that it made the decision to freeze toll rates based on the judgment that it must alleviate the burden on citizens' livelihoods, which has become difficult due to sharp increases in prices.

The three privately-financed roads for which Gyeonggi Province is the responsible authority must adjust tolls annually in accordance with implementation agreements concluded between the province and private sector operators, reflecting changes in the consumer price index.

In particular, as factors for toll increases have emerged due to sharp price increases since last year, private sector operators filed a "2023 Toll Adjustment Report" with Gyeonggi Province containing plans to raise tolls by 100 to 400 won across all vehicle types.

However, the province submitted an opinion inquiry on the 7th of March to the Gyeonggi Provincial Assembly that included the content of a toll freeze, taking into account the increased burden on household budgets.

The Gyeonggi Provincial Assembly expressed agreement with the policy's intent but suggested that "careful review is necessary considering the province's financial situation and the citizens' economy."

In response, the province explained that in the case of the Seo-Suwon to Uiwang Expressway, it minimized toll increases by recovering usage revenue for the first time nationwide, and will continue to examine various measures to reduce financial burden on the provincial budget and suppress toll increases.

Due to the toll freeze, Gyeonggi Province will not issue a separate notice.

Starting April 1st, operators of the three privately-financed roads plan to inform users of this toll freeze through electronic display boards and other means.