이 누리집은 대한민국 공식 전자정부 누리집입니다.

한상넷

비즈니스 정보

Biz News Korea(Eng)

Seoul city to sell naming rights of 57 subway stations

Collected: 2016.11.16

Distributed: 2016.11.17

Source: Go Direct

[Photo by Seoul city]

The Seoul Metropolitan Government has put up for sale of the naming rights for additional 57 subway stations in Seoul as they bring about handsome side revenue for the city.

During its trial bid, nine subway stations were offered for rechristening. Apgujeong station on Line No.3 in a posh southern Seoul area added the name Hyundai Department Store after Hyundai Department Store adjacent to the subway stop bought the name for about 300 million won ($25,636). Euljiro 1-ga station in the bustling downtown center also added the name Industrial Bank of Korea where its headquarters based outside.

The 57 stations whose naming rights have been up for sale include Jonggak on Line. 1 Yeoksam on Line No.2 , Yeouido on the Line No. 5 and Express Bus Terminal on Line No. 7 with large floating population.

The Seoul city government plans to decide the price for each station differently based on the location by the end of this year, select winners for the bids January next year and put up the additional names in April next year. The contract is valid for three years with a one-year extension option.

Companies or institutions located within 500 meters of the stations can apply for the bid to have their names on the stations. If there are no suitable candidates within 500 meters, the range could be expanded to one kilometer.

Seoul city said the first round of dual name project for nine stations generated 2.36 billion won in revenue. It expects the combined sale of 57 stations’ naming rights would generate 17.3 billion won in revenue for the next three years.

By Choi Hee-seok

List

Previous: Samsung BioLogics, Hanwha Techwin shares to be newly added to MSCI Korea index

Next: Posco Daewoo wins bid to develop Bangladesh gas block 12