GYEONGJU, South Korea—The historic city of Gyeongju, preparing to host the Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting at the end of this month (October 2025), has launched a determined campaign to combat excessive accommodation price hikes. With the eyes of the Asia-Pacific region set to turn toward the ancient Silla capital, city authorities are mobilizing a comprehensive effort to ensure fair pricing and protect the city’s image from the fallout of price gouging.
The city's concerns are understandable. As an international event of this magnitude—bringing together leaders and delegates from 21 member economies—approaches, the local lodging market is under severe pressure. Gyeongju, while rich in cultural heritage, has a more limited hotel infrastructure compared to major metropolises like Seoul or Busan. Reports indicate that accommodation for an estimated 20,000 attendees, including securing 21 presidential-level suites, has been a major logistical challenge, necessitating the mobilization of hotels, private facilities, and even cruise ships docked at nearby Pohang to house all participants. This tight supply environment creates a fertile ground for unscrupulous businesses to exploit the situation.
Enforcement and Public Scrutiny Intensify
Gyeongju City announced on October 5 its plan to take a firm stance. The city will regularly send text messages to lodging businesses, urging them to participate in stabilizing accommodation prices. Furthermore, it has designated personnel from relevant departments to continuously monitor pricing trends and conduct on-site inspections when necessary.
The city's policy emphasizes strict compliance with relevant laws. Any business found in violation of the price display system—such as failing to post official room rates or having a discrepancy between the reservation price and the on-site price—will face strict measures in accordance with the law. The city will maintain weekly regular inspections until the summit concludes and has also activated a public reporting system for citizens and tourists to report any instances of unfair charges, aiming for a swift restoration of market price order.
A Plea for Self-Correction
The enforcement measures follow a recent public outreach effort. On October 1, the city held a 'Hygiene and Service Improvement and Price Gouging Eradication Campaign' in the Bomun Tourist Complex and the Intercity Bus Terminal area, engaging approximately 60 citizens and representatives from the restaurant industry.
Vice Mayor Song Ho-jun stressed the broader damage caused by price gouging. "Price gouging is not merely a pricing problem; it leads to the erosion of the city's image, a drop in consumer trust, and a reluctance for tourists to return, ultimately causing harm to honest small business owners," Song stated. He affirmed the city’s commitment to simultaneously promoting self-correction within the industry while vigorously enforcing regulations through thorough inspections and public awareness campaigns to eliminate the problem.
As the host city prepares to welcome global leaders and showcase its millennium-old culture, Gyeongju is determined that the success of the APEC Summit will not be overshadowed by a handful of profiteers. The concerted action against price gouging is a vital effort to present Gyeongju as not only a historic and culturally rich destination but also a fair and trustworthy host on the international stage.
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