Consumers lose out on refunds after trying to get YouTube Premium for less; Seoul issues second warning

[Financial News] More consumers are suffering losses after paying account-sharing companies in advance for long-term access to save on YouTube Premium subscriptions, only to find they cannot use the service or get a refund.
The Seoul Metropolitan Government said on the 12th that it had issued its second consumer alert after a series of related consumer complaints.
According to the Seoul E-Commerce Center, it received 2,323 complaints related to YouTube account-sharing services from January through early November this year. Of these, 1,728 (74.4%) were received in October alone. In particular, complaints about two companies totaled 2,053, accounting for 88.3% of the total.
Most victims had paid in advance after being told they could use the service for six months to two years, but the service was suspended before their contracts expired or the companies stopped responding, leaving them unable to get refunds.
Bank transfers accounted for 90.1% of the complaints. Consumers sent money to company accounts after seeing ads on social media or through KakaoTalk open chats, among other channels. They had difficulty obtaining redress when companies refused refunds or stopped responding.
These companies have provided services by adding users in South Korea to family plans overseas or helping them sign up through countries where subscription fees are lower. However, the service may be suspended even if time remains on the contract when the terms of use for YouTube are not met.
The Seoul Metropolitan Government urged consumers to avoid doing business with companies that require cash deposits without offering card payments and to be cautious about paying long-term fees in advance. Information on companies that have received numerous complaints is available on the Seoul E-Commerce Center website.
The Seoul Metropolitan Government also stressed the need for a wider range of official subscription plans in South Korea. According to YouTube's Help Center, only five countries, including South Korea, do not offer family plans.
Lee Yeon-hwa, head of the Seoul Metropolitan Government's Fair Economy Division, said, "If an account-sharing company is steering you toward cash deposits only, stop doing business with it, and take particular care when paying fees in advance for a long period."

[email protected] Seong Cho-rong Reporter