The Seoul Metropolitan Government is aiming to raise basic subway fares in the capital by 150 won to one-thousand-550 won, or around one dollar and 17 cents, in the latter half of the year.

The city government announced on Monday that it is continuously holding consultations on the matter with related parties, including the Korea Railroad Corporation.

City officials had earlier revealed that they would seek an additional 150-won hike when it raised subway fares by 150 won on October 7 of last year.

While a 300-won hike conducted at once was initially considered in a bid to address the financial hardship of city-run subway operator Seoul Metro and to improve service quality, the hike was decided to take place in phases to reduce the public burden.

The Seoul government will decide on when to pursue the second 150-won hike through consultations with municipalities that take part in the integrated transfer discount system for subways, including Gyeonggi Province and Incheon.