• Journal of Korean Society of Transportation
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• v.25 no.1 s.94
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• pp.7-21
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• 2007

The purpose of this study is to examine the transportation, equity and efficiency impacts of cordon pricing schemes in the Seoul Capital Region of Korea. Autos would be required to pay a toll of 2.000 Won each time they enter cordons around the CBD or the subcenters during morning peak periods. The imposition of the toll would produce a substantial decrease in traffic volumes within the cordons as well as throughout the Capital Region. The lower the income level of commuters is, the more the share of auto decreases and that of transit increases. For equity impacts, the welfare of commuters would increase or decrease according to the cordon pricing schemes but would produce progressive impacts irrespective of the schemes. However, the commuters who have the highest value of time would experience welfare gains and it would result in regressive impacts. The schemes would result in a substantial net social welfare gain for the efficiency impacts. When the toll is charged at the CBD cordon only, the net social welfare would increase more.