On Nov. 20, the Ministry of Construction & Transportation announced an increase in railroad fares starting next month. An average of 8% will be raised accordingly – passenger fare 9%, freight rates 5% and packages 10%. 

20 months has pasted since the last increase of an average 8% in March 38 last year. 

According to MOCT, passenger fares will be raised accordingly – Saemaul Train 10% and Mugunghwa Train 8.8%. Tongil Train is excluded from the increase because it is commonly used by students and workers to commute from and to schools and companies. 

In correspondence to the increase, weekend standard fares between Seoul and Pusan by Saemaul Train will be raised from 33,600 Won to 37,000 Won and Mugunghwa from 22,900 Won to 24,900 Won. 

Rise on freight rates for 40 ft. containers will increase 13,300 Won, from 265,100 Won to 278,400 Won. 30kg. packages sent between Seoul and Pusan are increased from the current rate of 3,300 Won to 3,600 Won. 

MOCT explained the adjustment to railway fares is because current rates are below prime costs and revenue deficit has been carrying on for a long period of time. 
Source: edaily, November 20, 2003