President Lee denounces alleged price gouging in Busan following boy band BTS's world tour schedule reveal

Boy band BTS [BIG HIT MUSIC]

 
President Lee Jae Myung denounced allegations of price gouging in Busan following news that boy band BTS will hold concerts in the southeastern port city as part of its upcoming world tour.
 
In a post on X on Friday, Lee shared a media report and wrote that predatory practices that disrupt market order and cause widespread harm “must be eradicated,” with penalties severe enough to outweigh any unjust gains.
 
BTS is set to launch its world tour on April 9. Seventy-nine concerts across 34 cities in North America, Europe, South America and Asia are currently scheduled. 
 
The group will perform in Busan on June 12 and 13. The venue has yet to be announced.
 
The Busan concerts have drawn heightened attention since June 13 marks the group's debut anniversary, and the city is also the hometown of members Jimin and Jungkook.
 
Following the announcement, multiple accommodation providers in Busan quickly sold out all of their spaces. 
 
On major online travel platforms, the price of a deluxe double room at a luxury hotel in Busan on the concert dates was listed at 785,000 won ($532) compared to 298,000 won the previous week and 390,000 won two weeks before, prompting criticism that lodging prices were being excessively inflated in response to the concerts.
 
 
This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom. 

BY CHO MUN-GYU [seo.jieun1@joongang.co.kr]