BTS Concert Sparks Accommodation Price Surge in Busan, City Launches Crackdown
Following the announcement of BTSs upcoming performances, accommodation prices in Busan have reportedly surged, leading to public criticism. In response, the Busan city government has announced a special crackdown starting from the 23rd of this month to combat overpricing in the hospitality sector, particularly around the concert venue and major tourist attractions.
This crackdown is part of a follow-up action from a Public-Private Joint Price Stabilization Meeting held on the 23rd of last month. At that meeting, city officials pledged to establish a Price Stabilization Response Manual and enhance on-site inspections to prevent recurring surges in accommodation fees during large events. The current initiative aims to fulfill that promise through focused enforcement in collaboration with special investigative police.
Key targets for inspection include:
- Unregistered accommodation operations using shared lodging platforms such as office buildings and houses
- Failure to display accommodation price lists at reception desks
- Charging exorbitant prices that exceed posted rates.
Through these measures, the city aims to prevent price gouging and unregistered illegal operations, thereby protecting Busans image as a Global Tourist City.
BTS is scheduled to perform in Busan on June 12 and 13 as part of their world tour. Following the announcement, it became evident that not only on the concert dates but also on the days preceding and following the event, prices had skyrocketed tenfold or more.
For instance, a local accommodation in Dongnae District saw its price rise from 68,000 KRW on June 10 to 769,000 KRW on the 12th and 13th. Similarly, another establishment in Gijang County raised its rates from 98,000 KRW on June 10 to 502,000 KRW on the 12th and 431,000 KRW on the 13th.
In some instances, such as a lodging facility in Seomyeon, the price list for June was completely removed. For example, the cost went from 101,000 KRW on June 9 to 212,000 KRW on June 10.
The city hopes that these enforcement actions will help ensure fair pricing during the anticipated influx of visitors for the BTS concert, thus maintaining the reputation of Busan as a desirable destination for global tourism.
This crackdown is part of a follow-up action from a Public-Private Joint Price Stabilization Meeting held on the 23rd of last month. At that meeting, city officials pledged to establish a Price Stabilization Response Manual and enhance on-site inspections to prevent recurring surges in accommodation fees during large events. The current initiative aims to fulfill that promise through focused enforcement in collaboration with special investigative police.
Key targets for inspection include:
- Unregistered accommodation operations using shared lodging platforms such as office buildings and houses
- Failure to display accommodation price lists at reception desks
- Charging exorbitant prices that exceed posted rates.
Through these measures, the city aims to prevent price gouging and unregistered illegal operations, thereby protecting Busans image as a Global Tourist City.
BTS is scheduled to perform in Busan on June 12 and 13 as part of their world tour. Following the announcement, it became evident that not only on the concert dates but also on the days preceding and following the event, prices had skyrocketed tenfold or more.
For instance, a local accommodation in Dongnae District saw its price rise from 68,000 KRW on June 10 to 769,000 KRW on the 12th and 13th. Similarly, another establishment in Gijang County raised its rates from 98,000 KRW on June 10 to 502,000 KRW on the 12th and 431,000 KRW on the 13th.
In some instances, such as a lodging facility in Seomyeon, the price list for June was completely removed. For example, the cost went from 101,000 KRW on June 9 to 212,000 KRW on June 10.
The city hopes that these enforcement actions will help ensure fair pricing during the anticipated influx of visitors for the BTS concert, thus maintaining the reputation of Busan as a desirable destination for global tourism.
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