The debt ratio is also close to 100%... Kang Dae-sik “We can’t just show off exemptions and discounts.”

The debt ratio is also close to 100%... Kang Dae-sik “We can’t just show off exemptions and discounts.”

(Seoul = Yonhap News) Reporter Hong Gyu-bin = While nationwide highway tolls are exempted this Chuseok, it has been pointed out that the financial burden on the Korea Expressway Corporation is increasing as the toll reduction policy has accumulated over the past few years.

According to data submitted by the Korea Expressway Corporation to the office of People Power Party Rep. Kang Dae-sik, a member of the Land, Infrastructure and Transport Committee of the National Assembly on the 24th, the total amount of highway toll reductions over the 20 years from 2006 to last year was 6.2748 trillion won.

The amount of exemption increased each time a related system was established or expanded. The reduction amount, which was 137 billion won in 2006, exceeded 200 billion won in 2008 when discounts for compact cars were expanded, and exceeded 300 billion won in 2017 when discounts for eco-friendly cars were introduced. It was first recorded in the 400 billion won range in 2022.

After peaking at 490 billion won in 2023, it slightly slowed down to 482.5 billion won in 2024 and 471.2 billion won in 2025, but with the addition of temporary exemptions for route buses and late-night freight vehicles due to high oil prices this year, it recorded 278.7 billion won as of last July.

Last year's reduction of 471.2 billion won was equivalent to 10.7% of the annual toll revenue (4.4 trillion won) in the same year.

Considering that highway tolls have been frozen for more than 10 years after increasing by an average of 4.7% in 2015, some point out that the financial burden on highway construction is bound to increase.

According to the Korea Credit Rating report, the Korea Expressway Corporation's debt ratio (consolidated basis) increased every year from 82.0% in 2020 to 83.0% in 2021, 84.3% in 2022, 87.3% in 2023, 91.0% in 2024, and 95.6% last year. Total borrowings increased by 43.5% from KRW 28.8105 trillion in 2020 to KRW 41.3353 trillion in 2025.

Accordingly, the interest burden is expected to increase significantly. It is analyzed that interest on road construction loans will increase from 1.3162 trillion won this year to 1.7203 trillion won in 2030.

Rep. Kang said, “The government should not just show off with holiday toll exemptions and various discount policies,” and added, “As the debt and interest costs of road construction companies continue to increase, we must pursue policies to ease the burden on the public, while also preparing practical measures to ease the financial burden on road construction companies.”