Seoul's taxi fare hike is nearing. As the city government waits for over 250 local taxi operators to sign a set of new regulations, the higher fares are expected by the end of this year.
The new regulations state a "daytime" taxi fare will start from 3,800 won ($3.35), up from 3,000 won.
The fares will begin once 254 taxi firms in the Seoul Taxi Association sign a Seoul Metropolitan Government's letter of business agreement containing the new terms. Predictions indicate all companies will sign by year's end.
The taxi association gathered the presidents of city operators at the Seoul Transportation Center in the city's Songpa-gu District on Monday to discuss the terms. Participants agreed on the new fare and measures to treat drivers better.