SUWON -- Gyeonggi Province announced Friday it will provide 66.2 billion won ($46 million) in emergency financial support to bus operators in the province struggling with rising operational costs due to surging international oil prices triggered by the Middle East crisis.
The province currently operates 15,760 buses: 5,054 diesel buses (32%), 5,320 electric buses (34%), and 5,143 compressed natural gas (CNG) buses (33%).
Provincial officials said the decision was made over concerns that a sharp rise in oil prices would increase fuel costs for bus operators, directly disrupting public transportation services that residents depend on.
The support covers all 238 bus operators in the province, including intercity, express, and village bus services.
Rather than allocating new budget funds, the province will accelerate disbursement of existing subsidy programs to provide early financial relief.
The province plans to continue monitoring international oil prices and domestic fuel price trends while assessing the financial health of bus operators.
"If elevated oil prices persist, we are considering expanding the scale of support," said Yoon Tae-wan, Director of the Transportation Bureau at Gyeonggi Province. "We will continuously monitor fuel price fluctuations and actively implement necessary measures to maintain safe and stable public transportation operations."