Korea unveils measures to root out price gouging targeting tourists

The government unveiled Wednesday a series of measures aimed at rooting out overcharging and price gouging practices across the hospitality and tourism sectors, in an effort to strengthen Korea's tourism industry. The measures were announced during an expanded national tourism strategy meeting held at the presidential office Cheong Wa Dae and chaired by President Lee Jae Myung, with the attendance of officials from relevant ministries. Under the proposed measures, the government will revise legislation to require private lodging service providers, including those who offer accommodations specifically to foreign tourists, to display their prices and comply with price-related regulations. It will also strengthen legal punishments against restaurants and accommodation businesses that do not reveal their rates or overcharge their customers, the government said. Additionally, a new regulation to penalize accommodation businesses that unilaterally cancel bookings will be created, as well as compensation standards for customers. In the area of transportation, the government will introduce new ru