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▲ Group BIGBANG
With the 20th-anniversary concert of the group BIGBANG just over a month away, accommodation prices near the venue are surging.
There are growing calls for countermeasures as consumers face the burden of fluctuating prices, a recurring issue whenever large-scale events such as concerts are held.
According to media reports on July 5, room rates for accommodations near Goyang Stadium in Goyang, Gyeonggi Province—the venue for the concert—have risen sharply since June 25, when ticket sales began for the BIGBANG 20th Anniversary Concert scheduled for three days starting August 21.
Some lodging facilities near Daehwa Station on Subway Line 3, which is close to the stadium, are selling rooms on online booking platforms at prices more than double those of the same period the previous week.
One motel, which typically charges between 80,000 and 100,000 won, has posted a rate of up to 350,000 won for August 22, the second day of the concert, which is more than triple its usual price.
Even with these steep price hikes, most accommodations are being fully booked early due to the influx of domestic and international fans.
Consequently, prices for accommodations near Bulgwang Station in Eunpyeong-gu, Seoul, which is about a 30-minute subway ride from Daehwa Station, are also being affected.
Many lodging facilities near Bulgwang Station have been fully booked since seven weeks before the BIGBANG concert.
Some businesses are raising prices or demanding cancellations of existing reservations.
A person identified as A, who booked a motel near Bulgwang Station after the concert ticket pre-sale on June 24, received a request from the motel to cancel the reservation two days later.
While the motel cited reasons such as potential construction work, A raised suspicions that the business was trying to re-list the room at a higher price. This was because the price for the same type of room, which A had booked for 110,000 won, rose to 150,000 won about 10 minutes later and then surged to 200,000 won on June 25, following the general ticket sale, and the reasons provided for the cancellation request changed several times.
As a result, concerns are mounting that the controversy over price gouging in accommodations, which has repeatedly occurred around large-scale events, may be repeating near the BIGBANG concert venue.
During the BTS concert in Busan last month, there were allegations that some lodging facilities unilaterally canceled reservations to re-sell rooms at higher prices, which led to a police investigation.
Experts pointed out that while price fluctuations during major events are a natural phenomenon driven by supply and demand, excessive price hikes or unilateral cancellations after a booking is confirmed can damage market trust.
Lee Hong-ju, a professor of consumer economics at Sookmyung Women's University, said, "It is a fundamental principle for lodging businesses to respect contracts once a reservation is confirmed." She added, "If cases of unilaterally demanding cancellations to secure higher prices continue, it could lower trust not only in the specific lodging business but also in the booking platform itself."
Regarding platforms, Professor Lee emphasized, "There is a need for responsible management, such as requiring transparent disclosure of reasons for reservation cancellations and restricting the exposure of businesses that repeatedly engage in unilateral cancellations."
In response, Yanolja, the operator of the accommodation platform, explained, "As a platform, there are limits to directly intervening in the sales policies of our partners, but we are implementing management measures, such as restricting businesses with excessive price fluctuations compared to normal levels from participating in local government events."
Yanolja also discussed measures to address price gouging with the Ministry of Culture, Sports and Tourism and industry officials last month.
※ Please note: This article was translated by AI and may contain errors.
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