Korea moves to curb hotel price gouging during major concerts

Hotels and Airbnb hosts will soon face penalties for price gouging and unjustified canceling of reservations ahead of major events. On Friday, a revision to the Tourism Promotion Act stipulating such measures was proposed, which would make it mandatory for accommodation providers to disclose prices and ban unfair business practices such as unreasonable price hikes and reservation cancellations. Under the bill, violators could face sanctions such as restrictions on support from the Tourism Promot