Next stop: your favorite neighborhood company
![Subway stations in Seoul with added names of companies. [SEOUL METROPOLITAN GOVERNMENT]](https://koreajoongangdaily.joins.com/data/photo/2021/05/20/d4489f6f-ef93-43e7-8d70-b601840863e6.jpg)
Subway stations in Seoul with added names of companies. [SEOUL METROPOLITAN GOVERNMENT]
“From July, we will take submissions from companies who’d like to add their names to the subway station closest to them, for a fee,” the Seoul Metropolitan Government said in a statement Thursday.
The subway stations already open for applications are Yeoksam Station on Line No. 2 and Euljiro 4 (sa)-ga Station on Lines No. 2 and 5.
“At least three more stations will be added to the list,” the city government said, adding that companies can apply for subway stations within 1 kilometer (0.6 mile) of their headquarters.
The companies will get their names added to subway station signs within the station and on exit signs for the next three years.
![An exit sign of Guro Digital Complex Station on Line No. 2 shows the added name of Wonkwang Digital University in parentheses. [SEOUL METROPOLITAN GOVERNMENT]](https://koreajoongangdaily.joins.com/data/photo/2021/05/20/188e2f64-17f6-499d-87af-b17abf04f89d.jpg)
An exit sign of Guro Digital Complex Station on Line No. 2 shows the added name of Wonkwang Digital University in parentheses. [SEOUL METROPOLITAN GOVERNMENT]
Extensions are allowed only once, the city government said.
The expansion of the campaign is expected to bring a badly needed new source of revenue.
“We hope that the campaign will help create additional revenue for the company, which is struggling financially,” said Kim Sang-bum, CEO of Seoul Metro, in a statement on Thursday.
Seoul Metro, which operates subway Line Nos. 1 to 8, has been running deficits for years. Its accumulated deficit grew from 116 billion won ($102.3 million) in 2018 to 987 billion won in 2020, according to Seoul Metro.
A hike in ticket prices has been discussed, but a new mayor cut that possibility short in a recent announcement.
“I understand that there have been discussions on the matter,” Mayor Oh Se-hoon told the press on Monday. “But I think a hike in prices should be considered after all options on revamping management of the company to better balance [the expenses and revenues] have been considered. Not much progress has been made on that front since the company was relaunched [in May 2020] through a merger. The city is not going to consider raising prices, especially at a time when people are struggling with the pandemic, until they’ve come up with a better business plan.”
The last time that the subway ticket prices were raised was in 2015, when the basic fare for an adult, when paid with a card, was raised from 1,050 won to 1,250 won.
BY ESTHER CHUNG [chung.juhee@joongang.co.kr]
with the Korea JoongAng Daily
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