SEOUL, Feb. 11 (Korea Bizwire) — Due to the prolonged COVID-19 pandemic, the number of public transport passengers dropped sharply in Seoul last year, dealing a heavy blow to the finances of the bus companies that are operated under the semi-public management system.
According to the Seoul Metropolitan Government, 1.45 billion passengers used the city’s intra-city and town buses last year, down 23.6 percent from 1.95 billion a year ago.
The city government earmarked a supplementary budget of 11 billion won (US$9.93 million) last year to extend emergency support for the town bus companies.
The intra-city bus companies, however, failed to receive financial support, with their financial shortage estimated at about 560.8 billion won.
The number of passengers who used Seoul subway lines No. 1-8 and the second and third sections of the Seoul subway line No. 9, run by the Seoul Metro, stood at 1.98 billion, down 27.4 percent from 2.73 billion a year ago.
Seoul Metro, a public corporation of the Seoul Metropolitan Government in charge of operating subway lines 1-8 and part of Line 9, said its transport income declined by 27 percent to 1.22 trillion won in 2020 from 1.67 trillion won in 2019, with its 2020 net loss estimated at 1.1 trillion won.
Image Credit: Yonhap / Dongjak District Office / photonews@koreabizwire.com
