President Lee Condemns Price Gouging Ahead of BTS Busan Concert
Creatrip Team
2 months ago
President Lee Jae-myung criticized alleged lodging price gouging in Busan ahead of a BTS concert, saying such “malicious extortion” that undermines market order must be rooted out and that penalties should make ill-gotten gains smaller than the losses. Reports say some accommodations near Haeundae raised rates four to six times, canceled existing bookings, and drove a regional price spike tied to major events. Officials face calls for effective measures to prevent repeated “room gouging” during peak seasons and large events. (BTS: globally famous K-pop boy band) (Haeundae: popular beach and district in Busan)
