Seoul, South Korea – In a move to curb no-shows and improve seat utilization during the upcoming Lunar New Year holiday, Korea’s high-speed rail operators, SRT and Korail, have announced a significant increase in cancellation fees for train tickets.

Starting from January 13th to 16th, during the Lunar New Year ticket booking period, SRT will double the cancellation fees for its trains. The new fee structure will impose a 10% penalty for cancellations made between the departure time and three hours prior, 20% for cancellations made between three hours and the departure time, and 30% for cancellations made within 20 minutes of departure. Additionally, the minimum cancellation fee will increase from 400 won to 5% of the ticket price for cancellations made between two days and one day prior to departure.

Korail has implemented similar measures for its KTX trains during the same period. The South Korean state-owned railway operator reported that during last year’s Chuseok holiday, approximately 45.2% of tickets issued were refunded, and 10.66% of those seats remained unoccupied.

Both railway operators aim to reduce the number of no-shows and ensure that more passengers can secure seats during the peak travel season. By increasing cancellation fees, they hope to deter passengers from making multiple bookings or canceling at the last minute.

The decision to double cancellation fees has been met with mixed reactions from the public. Some commuters support the move, arguing that it will make it easier for them to secure tickets. Others, however, express concerns that the higher fees may disproportionately affect those who have unforeseen circumstances that force them to cancel their trips.

[ⓒ Global Economic Times. 무단전재-재배포 금지]