Hotel Prices Soar 10x for BTS Busan Concert—President Lee Jae-myung Orders Crackdown

Prices Jump Up to 10 Times

Following the announcement of BTS's June 12-13 concerts in Busan, accommodation prices across the city have surged dramatically.

According to reports, some hotels and lodgings have raised their rates up to 10 times the usual price for the concert dates.

Busan City and President Take Action

In response, Busan City announced it will operate a reporting center to monitor excessive price increases.

President Lee Jae-myung called the price surge "malicious exploitation" and vowed to "root out such behavior." He stressed that penalties must far exceed any illegal profits.

In South Korea, major K-pop concerts are typically held in Seoul and the metropolitan area. Busan, the country's second-largest city, rarely hosts events of this scale. Accommodation shortages and price spikes have been recurring problems during major events.

Four years ago, when a major event was held in Busan, the city operated a similar reporting center. At that time, 48 complaints were filed, but only 9 resulted in fines or administrative action, raising questions about effectiveness.

Under current regulations, it is difficult to directly control accommodation prices unless there is false advertising or discrepancies in actual charges.

Will This Time Be Different?

With the president and the Ministry of Culture directly involved this time, attention is focused on whether the outcome will be different from the past.

Is this phenomenon unique to South Korea? Are there effective solutions?