The interdependence of traffic dynamics and air quality on the concentrations of tire wear particles (TWP), heavy metals, and carbon black (CB) in road dust collected from 15 locations in Seoul, South Korea, was assessed. Pearson correlation, principal component analysis, and network analysis were employed to evaluate the correlations among traffic volume, vehicle speed, air quality parameters (PM10, PM2.5, NOx, and CO), and the concentrations of TWP (5934 to 16,253 mg/kg, average 9581 ± 4086 mg/kg), CB (371–22,287 mg/kg, average 4291 ± 6096 mg/kg), and heavy metals (Cr, Mn, Fe, Ni, Cu, Zn, As, Cd, and Pb) in road dust. The enrichment factors for heavy metals and the pollution index of TWP and CB were also calculated to evaluate the contribution of vehicle-derived particulate substances to road dust contamination. It was found that Cluster B, characterized by traffic-related variables such as traffic volume, vehicle speed, and heavy metals (Zn, Cd, and Pb), was significantly correlated with these pollutants, with correlation coefficients reaching up to 0.933. TWP was identified as a significant mediator in the increase of Zn, Pb, and Cd concentrations linked to traffic activities, contributing to pollution levels that were 2–16 times higher than the geochemical background. The presence of TWP and CB in road dust was identified as an indicator of contamination from traffic-related activities, highlighting the importance of Zn, Pb, and Cd as emerging pollutants that require targeted management strategies.