Over the past decade, road passenger transport movements by buses and coaches in South Korea have shown fluctuations. From 2013 to 2015, the sector saw slight increases and decreases, indicating a relative stability. However, a significant decline occurred from 2016 to 2019, with values dropping due to various factors before plummeting in 2020 and 2021, primarily because of the COVID-19 pandemic. The value fell drastically by 38.25% in 2020 and further by 22.78% in 2021, reaching a low point. A recovery phase began in 2022 with a substantial increase of 98.18%, followed by a growth of 9.36% in 2023, where the value stood at 102.17 Billion Passenger Kilometers. The next five years forecasted values suggest a recovery trend with an annual growth rate of 0.74%, leading to a 3.78% overall growth by 2028.
Future trends to watch for:
- Technological advancements in transport systems to improve efficiency and reduce emissions.
- Government policies and investments in public transportation infrastructure.
- Impact of socio-economic factors on public transportation usage patterns post-pandemic.
