Taxi fares in Seoul will rise on Feb. 16, the city government said Wednesday.

The basic taxi fare will increase from the current 3,000 won ($2.60) to 3,800 won, while the basic late-night fare from midnight to 4 a.m. will also rise -- from 3,600 won to 4,600 won. 

Meters will rise faster as well.

Under the current fare system, taxis go 142 meters per 100 won after the basic fare covers the first 2 kilometers. When taxis travel slower than 15 kilometers per hour, 100 won is added to the fare for every 35 seconds.

The new fare system, however, will shorten the distance to 132 meters and the time to 31 seconds.

The basic fare for deluxe taxis and jumbo taxis will also rise to 6,500 won, up 1,500 won. The taxis will travel 151 meters or 36 seconds per 200 won.

The new fares are to go into effect at 4 a.m. on Feb. 16.

The city government will update the meters installed in 70,000 taxis from Feb. 16 and March 2. To prevent confusion, the new fares table will be available inside the taxis during the period.

By Park Ju-young (jupark@heraldcorp.com)