Gyeongnam Province announces plans to cut tolls on private roads

Image: Gyeongnam province
Image: Gyeongnam province

Gyeongnam Province announces plans to cut tolls on private roads

haps Magazine Korea

Gyeongnam province announced that it plans to first discount the tolls on Geoga Bridge from next year to ease the toll burden on the private roads, which is a pledge of the 8th civil election, and to promote the reduction of tolls on Machang Bridge and Geoga Bridge.  

Geoga Bridge 20% discount on holiday tolls for compact and mid-sized vehicles
Starting from January 1 of next year, Geoga Bridge will offer a 20% discount on fares for small and medium-sized cars that pass on holidays (Saturday, Sunday, and public holidays). Small cars will be discounted from 10,000 won to  8,000 won, and midsize cars will be reduced from 15,000 won to 12,000  won, respectively, from 2,000 won to  3,000 won.  

This discount was decided by utilizing about KRW 87 billion of shared profits generated from the refinancing of private investment and considering the expected increase in traffic volume due to the toll discount effect. 

Geoga Bridge reduced the tolls for large and extra-large vehicles by 5,000 won each, which took effect on January 1, 2020, and with the addition of the toll discounts for small and medium-sized vehicles,  all types of vehicles will now receive a 20% discount on tolls. 

From the opening of the Geoga Bridge in January 2011, the discount was implemented for the first time in 13 years in response to the request for a high toll reduction of 10,000 won for compact vehicles. This discount is expected to be of great help in alleviating the toll burden of users at a time when more than 30,000 vehicles pass through on holidays.

It is expected to greatly contribute to regional development and economic revitalization ahead of the construction of Jinhae New Port and Gadeok New Airport, along with the effect of the influx of holiday tourists in Gyeongnam and Busan.

Promotion of toll discounts for vehicles commuting to and from Machang Bridge
The Machang Bridge will also be promoted to ease the toll burden. According to the concession agreement, they are working with the city of Changwon and the project operator to reduce the burden on residents, such as freezing rates that are planned to increase this year and introducing a flexible rate system for short-term commuting hours. 

Efforts are being made to reduce the financial burden by promoting discussions with the project operator on matters for improvement in the operation of Machang Bridge discovered by the private road task force, which has been operating since last September.

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