The city of Seoul has decided to postpone its plan to hike subway and bus fares until the second half of this year instead of April.

The Seoul Metropolitan Government revealed the decision to delay the hike on Wednesday, shortly after President Yoon Suk Yeol pledged to freeze public utility charges in the first half of the year as part of efforts to minimize the public’s burden amid inflation and high interest rates.

The Seoul government had been making preparations to apply the marked-up fares for subways and buses from the end of April, culminating in a proposal to the city council on Monday that the prices for both modes of transportation rise by 300 to 400 won per trip.

An official of the city government said Seoul decided to delay raising the fares in accordance with the president’s remarks, but quickly added that the hikes are inevitable.