Busan Hotel Prices Surge Tenfold During BTS Free Concert In City

Hotels and other lodging businesses in Busan are receiving backlash on social media for hiking their prices by about ten times more and canceling reservations following the announcement of BTS' free in-person concert in the city.

The group's fans, known as Army, have resorted to finding nearby accommodations in the remote area, approximately 38 kilometers from Gimhae Airport and Busan Station, and 51 kilometers from Ulsan Station, where KTX trains are accessible, The Korea Times reported.

But to Army's dismay, accommodations near the concert venue in Ilgwang County were charging 5 million won ($3,725) to 10 million won ($7,409) for a two-night stay during the day of the event, according to the same source. The price range was reportedly 20 to 30 times more than the average hotel room price for two nights in September, usually valued at 300,000 won.

A motel, approximately 10 kilometers away from the venue, started charging 615,000 won ($458) per night, which was reportedly "more than tenfold" its usual room charge of 65,000 won ($48).

A three-star hotel in the Haeundae district, about 20 kilometers away from the Ilkwang Special Stage, charged a premium double room for over 3 million won ($2,223), which only cost around 110,000 won ($81.38) during the Chuseok Holidays in September, while the most expensive room would typically cost only 200,000 won ($148.26).

Despite the hike in prices, South Korean mobile booking platform Yanolja showed that almost all accommodations near the special concert venue got fully booked at the time of the concert in October.

Fans have resorted to sharing their experiences on social media, and some even filed a complaint to the Busan Metropolitan Government and the Fair Trade Commission due to the unfair price hike.

"For real. I have my hotel reserved, but I just went to check prices, and it's insane! I've never paid more than 100-120USD per night in Busan for a deluxe room. Even minutes after the concert announcement, the price was up about $75 (I booked the same hotel I stayed in last time)," one user wrote.

Another commented, "There are actually decent hotels still available in Busan, but the way they've jacked up the price is next level ridiculous."

The local government was quick to respond to the situation, saying they would "consider guiding the region's lodging industry to straighten out the overpriced accommodation charges." However, they noted that the guidance would only be a statutory measure. Hence, it would not be "binding and enforceable."

BigHit Music, BTS' agency, announced last Wednesday through the web platform Weverse that the world's biggest boyband would be holding "BTS: Yet To Come" at Busan Ilkwang Special Stage on Oct.15 at 6 p.m. KST to help promote the city's 2030 World Expo. The event would be held in person and through online streaming, free of charge.

Due to the massive fanbase of BTS, the agency expected about 100,000 people to watch the concert, while the in-person live broadcast would cater to at least 10,000 people at the Busan Port International Passenger Terminal Outdoor Parking Lot.

All seven members of BTS, including RM, Jin, Suga, J-Hope, Jungkook, Jimin and V, would be performing at the special concert despite the announcement of the group's hiatus in June to focus on individual projects.