A citizen touches a transportation card to the card reader on a turnstile at a subway station in Seoul, Jan. 1. Newsis

The Seoul city government will additionally consider raising its subway and city bus fares by 400 won ($0.32), besides its earlier 300-won hike proposal, city officials said Wednesday.

The municipal government plans to hold a public hearing next month with the goal of raising public transportation fares in April after a freeze for eight years.

It will prepare two fare hike proposals ― 300 won or 400 won ― to listen to the opinions of various public hearing participants, including experts, city council members and citizens, the officials said, adding the hearing is tentatively slated for next Wednesday.

The city government previously said last month that it will consider raising subway and city bus fares by 300 won to meet growing budget deficits.

A hike of 300 won will bring the regular subway and bus fares from the current 1,250 won and 1,200 won to 1,550 won and 1,500 won, respectively. In cash, the subway and bus fares will be increased to 1,650 won and 1,600 won per basic trip, respectively.

"Bus and subway fares are supposed to rise by 500 won and 700 won, respectively, in consideration of the actual circumstances," a city government official said.

"But considering the economic burden of citizens, we've prepared two options ― a hike of 300 won or 400 won. Raising the fares beyond the levels seems realistically difficult," the official said. (Yonhap)