South Korea Proposes Penalties for Hotel Price Gouging During Major Events
South Korea is taking steps to address consumer complaints about price gouging by hotels and Airbnb hosts during major events. A proposed revision to the Tourism Promotion Act aims to penalize accommodation providers for unfair price hikes and reservation cancellations. This move follows reports of excessive charges and cancellations ahead of significant events, such as BTS's Arirang world tour in Busan. The proposed legislation would require providers to disclose prices and prohibit unreasonable business practices. Violators could face business suspensions, loss of tourism support, loan clawbacks, and surcharges. This is the third such bill proposed in 2026, reflecting ongoing efforts to protect consumers from exploitation during international conventions, festivals, and concerts. 
