Price Stabilization Meeting Held
to Address Accommodation and Restaurant Price Gouging
On October 16, Yoon Hojung, Minister of the Interior and Safety, visited Gyeongju ahead of the 2025 APEC Summit to inspect safety management and price stabilization measures at major event venues.
That afternoon, Minister Yoon visited the Gyeongju World Culture Expo Park and the HICO Convention Center in succession to examine the safety management status of key facilities such as exhibition halls, the summit venue, and the International Media Center (IMC).
Yoon Hojung, Minister of the Interior and Safety, is inspecting safety management and price stabilization measures in preparation for the 2025 APEC Summit together with Joonakyoung, Mayor of Gyeongju, at Hwangryowon on the 16th. Photo by Gyeongju City
The inspection was attended by Joonakyoung, Mayor of Gyeongju, as well as officials from North Gyeongsang Province, the fire and police departments, the Korea Electrical Safety Corporation, and other related agencies.
Minister Yoon meticulously reviewed emergency evacuation routes, power redundancy, fire and electrical safety, and crowd management systems on site, stating, "There must not be a single exception to safety, even for one day, during the summit."
After completing the safety inspection, Minister Yoon moved to Hwangryowon, where he held a price stabilization meeting with representatives from North Gyeongsang Province, Gyeongju City, merchant associations, and the accommodation and restaurant industries, and participated in a performance to eradicate price gouging.
During the meeting, participants discussed measures for price management, including stabilizing accommodation and restaurant fees during the APEC period, compliance with price display regulations, and the operation of a reporting center.
Since July, Gyeongju City has designated the period from July to October as the "APEC Price Stabilization Intensive Management Period" and is operating a comprehensive price control situation room under the direct supervision of the Deputy Mayor.
The city is focusing on managing items closely related to daily life, such as accommodation, food service, and agricultural, livestock, and marine products, and is expanding voluntary participation from the industry through activities such as investigating the posting status of accommodation price lists and designating certified safe lodging businesses.
Joonakyoung, Mayor of Gyeongju, stated, "As a city welcoming leaders and delegations from around the world, providing a dignified reception is Gyeongju's competitive edge," and added, "During the APEC period, let us demonstrate the 'Gyeongju-style service standard' that impresses the world with kindness, cleanliness, and honest pricing from all citizens."
During the APEC Summit period (October 31 to November 1), Gyeongju City plans to strengthen on-site inspections and administrative measures for businesses that do not display accommodation price lists, and will continue to send repeated text messages to guide accommodation price stabilization and maintain price control efforts.
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