Pan-government crackdown on unfair pricing practices targets traditional markets and tourist sites ahead of chuseok

[Yonhap]
[Yonhap]

The Ministry of Interior and Safety announced Monday that it will conduct a cross-ministry joint inspection of major traditional markets, tourist sites and local event venues nationwide from Monday through Sept. 22.

The Ministry of Economy and Finance, Ministry of Culture, Sports and Tourism, Ministry of Health and Welfare, Ministry of SMEs and Startups, Ministry of Food and Drug Safety, National Tax Service, Korean National Police Agency and Korea Fair Trade Commission will join the Interior Ministry in the inspection, along with local governments.

The pan-government joint inspection team will focus on stabilizing everyday prices, with particular attention to excessive price hikes on seasonal goods ahead of the chuseok holiday rush and price gouging targeting tourists. Authorities said they will also take strict action against unfair practices such as failure to display prices and price-fixing among businesses.

Inspectors will particularly focus on compliance with price and country-of-origin labeling requirements; short-measure sales and product mixing through tampered measuring devices; unjustified price increases and price-fixing among businesses; violations of hygiene standards; and smishing scams.

Businesses found in violation of relevant laws will face toughened penalties — including suspension of operations — starting from the first offense.

Alongside this, the government will partner with private organizations such as merchant associations to run an anti-price-gouging campaign, aiming to restore public trust and boost local economies through voluntary community participation.

The government will also strengthen cooperation with local governments and related ministries to ensure complaints filed through the integrated price-gouging reporting channel are handled promptly.

"Together with related ministries and local governments, we will conduct a thorough inspection of everyday life — from stabilizing prices of chuseok seasonal goods to establishing fair commercial order — to proactively block illegal price increases," Interior and Safety Minister Yun Ho-jung said. "Against unfair practices that threaten people's livelihoods, such as price gouging and price-fixing, we will apply a zero-tolerance principle and respond firmly, to build a people-centered economy where honest merchants and consumers can all benefit."


thlee@heraldcorp.com