The basic taxi fare in Seoul will increase 21.1 percent from the current W3,000 to W3,800 in February next year (US$1=W1,126). The basic late-night surcharge will also rise 21.7 percent from W3,600 to W4,600.

The Seoul Metropolitan Government announced the new fares on Wednesday.

Fares will rise for the first time since October 2013. The basic fare for jumbo and deluxe taxis will increase by W1,500 to W6,500.