"Sold Out Even as Prices Rise from 10,000 to 200,000 Won"…Jeju Flight Tickets Become Golden Tickets

Round-trip approximately 220,000 to 230,000 KRW range

The appearance of Gimpo Airport domestic terminal on the 31st of last month. / Photo by Asia Economy

[Asia Economy Reporter Na Ye-eun] As the number of COVID-19 cases continues to decline, flights to Jeju in June are selling out, with prices soaring due to explosive travel demand, aircraft supply shortages, and rising fuel costs.

On the 16th, checking Naver Airlines' website, the round-trip airfare for Air Seoul's Gimpo-Jeju flight departing on the 17th and returning on the 19th is around 220,000 to 230,000 KRW. Even these are all for early morning flights before 7:30 AM, which have fewer passengers; choosing other times results in even higher prices.

Many weekend peak time slots are already sold out. Special fares, discounted fares, regular fares, and business class fares are either sold out or have only one or two seats left.

Korean Air's lowest fares start at 223,200 KRW, and low-cost carriers (LCCs) such as Jeju Air and T'way Air have round-trip ticket prices in the 190,000 to 200,000 KRW range.

Ticket prices after August, when the peak season fully begins, are even higher. For Asiana Airlines, except for July, which is the rainy season, the lowest fares until November are higher than those in June.

Last year, when COVID-19 cluster infections were severe, Jeju-bound tickets sometimes appeared for as low as 10,000 KRW, but now, with pent-up travel demand exploding due to the easing of social distancing, prices have surged.

Additionally, soaring fuel prices are increasing consumer burdens. With crude oil prices nearing $120 per barrel, fuel surcharges have also risen. Korean Air announced that the domestic fuel surcharge for July will be 19,800 KRW, the highest ever.

To lower airfare prices, supply must increase, but Jeju is already saturated. The international routes, which caused domestic route saturation, are difficult to increase due to quarantine regulations.

The government has recently taken measures such as removing airport operation curfews, but so far, this has not led to an increase in routes.