Korea's government will reform lodging pricing rules to eliminate overcharging and ensure transparency in consumer pricing.
February/27/2026 11:55Related Groups & Members
The South Korean government will significantly overhaul related systems to eradicate "overcharging prices" in the lodging industry. On the 25th, at the expanded national tourism strategy meeting, the government announced that in the future, if caught engaging in deceptive practices such as failure to display prices, false displays, or violations of declared prices, it will be possible to impose immediate business suspension beyond the level of corrective orders with just one instance of being caught. Similar regulations will be newly established for urban and rural lodging aimed at foreigners, where the display of price lists and compliance obligations have been insufficient. A system will also be introduced to prevent the repeated price hikes during high seasons and large events. Lodging providers must voluntarily set upper price limits for different periods such as high season and low season, and must report and disclose this to local governments at least once a year. If they exceed this or fail to report, they will face business suspension. The government aims to implement this by the end of the year. Unilateral cancellations of reservations aimed at raising prices will also be subject to penalties. If canceled without just cause, business suspension will be imposed similarly to price display violations, and standards for refunds and compensation to consumers will be established. Improvements will also be made in the transportation sector. To address issues with the rental car price declaration system in Jeju Island and eliminate excessive price disparities between high and low seasons, regulations on maximum discount rates will be introduced. For unfair taxi fares aimed at foreigners, penalties will be strengthened to allow for immediate qualification suspension upon being caught. Stores penalized for overcharging will have their registrations as members of Onnuri gift certificates and local Sarang gift certificates revoked, and the relevant markets will be restricted from participating in refund events. Financial incentives will also be provided based on the achievements of local governments in price management. However, since this measure requires legislative procedures, it will not apply to the BTS concert scheduled in Busan in June. Prior to this, a survey by the Korea Consumer Agency revealed that during the BTS concert period, lodging prices in the Busan area (per night) surged to an average of 433,999 won (about 43,000 yen), approximately 2.4 times higher than usual.
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