South Korean President Suggests Publicizing Businesses with 'Exorbitant' Accommodation Fees

South Korean President Lee Jae-myung has called for the public disclosure of businesses engaging in "price gouging" for accommodation, particularly in tourist hotspots. He argued that such practices, which often involve canceling existing reservations to resell rooms at higher prices, harm the local image and deter visitors.

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Businesses that try to charge more for accommodation end up causing trouble for the entire neighborhood. It would be good to publicize the names of such businesses.

Speaking at a briefing on preparations for the 48th UNESCO World Heritage Committee meeting in Busan, Lee stated, "Businesses that try to charge more for accommodation end up causing trouble for the entire neighborhood. It would be good to publicize the names of such businesses."

The president's remarks were prompted by recent controversies, including inflated accommodation prices in Busan ahead of a planned concert by the K-pop group BTS. Lee expressed concern that such issues could negatively impact the city's image, especially with the upcoming World Heritage Committee meeting in July.

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You might earn a little money, but you can inflict a fatal blow.

Lee emphasized that the issue is not simply about higher prices, but about unfair practices like canceling reservations and reselling them at inflated rates. He asserted that such actions warrant severe sanctions, warning that a damaged reputation, once incurred through such practices, takes a long time to repair. "You might earn a little money, but you can inflict a fatal blow," he cautioned.

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People are not angry because the accommodation fees are high. They are angry because reservations are canceled and then resold to others at a higher price.