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By Lee Han-soo

Seoul Metro and Seoul Metropolitan Rapid Transit Corp. will sign contracts with companies and colleges for subway station naming rights.

The contracts, which will be signed this month, will take effect at year's end.

The move will add "Hyundai Department Store" to the name of Apgujeong Station on line No.3, "Industrial Bank of Korea" to Euljiro 1-ga Station on line No.2 and "Shingu University" to Dandaeogeori Station on line No.8.

Myeongdong Station on line No.4 will add "Jeongwha Arts College" to its name, while Seodaemun Station on line No.5 will add "Kangbuk Samsung Hospital" and Bangbae Station on line No.2 "Baekseok University."

The Seoul Metropolitan Government released the notice of sale and base prices for the subway station names. The Seodaemun Station naming was the least expensive at 180 million won ($152,000) while Euljiro 1-ga Station was most expensive at 340 million won.

Express Bus Terminal Station on lines No.3 and 7, Chungmuro Station on lines No.3 and 4, and Yeoksam Station on line No.2 are still up for bids.