MOIS to Conduct Intensive Inspections of Chuseok Overcharging; On-Site Investigations Within 24 Hours of Reports

[Financial News] The Ministry of the Interior and Safety will launch intensive inspections of excessive prices for holiday goods, restaurants and lodging facilities ahead of Chuseok. When a report is filed, local governments will, in principle, begin on-site investigations within 24 hours. If violations of the price display system or other violations are confirmed, measures such as corrective recommendations or business suspensions will be imposed.
MOIS announced on the 10th that it has designated Sept. 11–27 as the “Special Period for Chuseok Price Stabilization” and will operate joint inspection teams involving the central government, local governments and civic groups. The inspections will cover sellers of Chuseok holiday goods, restaurants and lodging facilities. The teams will focus on unfair practices, including excessive prices taking advantage of the holiday shopping season and violations of the price display system.
A reporting channel will also be available for consumers to report excessive prices. They can call their local area code followed by 120 or 1330, or use a QR code. Local governments will, in principle, begin on-site investigations within 24 hours of receiving a report. If violations are confirmed, they plan to immediately take measures such as issuing corrective recommendations or suspending business operations.
Local governments will also strengthen price management. Each local government will operate a comprehensive price-measures situation room and designate a senior official at the bureau or department-head level as its price-management officer. These officers will survey prices of Chuseok holiday goods and publish the results on their local government websites.
Consumer support measures to ease the burden of prices will be implemented as well. Six card issuers—Lotte, Samsung, Hana, Hyundai, KB Kookmin Bank and NH NongHyup—will offer a 2,000-won discount for purchases of at least 10,000 won at Good Price Stores during September. Consumers who visit at least three Good Price Stores during September and participate in a review event may also receive souvenirs through a prize drawing.
To make it easier to visit traditional markets, parking will be permitted for up to two hours on roads around 420 traditional markets nationwide from Sept. 11 to 27. Areas around firefighting facilities, child protection zones and locations with frequent traffic accidents will be excluded.
MOIS Minister Yun Ho-jung said, "We will take preemptive and strict action against unfair practices, including excessive prices targeting the holiday shopping season."

[email protected] Lee Bo-mi Reporter