The Fair Trade Commission has identified 17 wedding service providers that failed to properly disclose essential information, such as prices for optional items and penalties for cancellations and refunds.
On October 16, the commission announced it has initiated procedures to impose fines on these companies for violating the 'Important Information Disclosure and Advertising Guidelines' in the wedding service sector.
The commission has notified the businesses of the impending fines and will finalize the amounts by the end of the month after a period of at least 10 days for them to submit their opinions.
This inspection follows the full implementation of the important information disclosure guidelines, which began after a grace period ended in May, aimed at increasing transparency in pricing for wedding venues and planning services.
Concerns have been raised in the wedding service market about rising costs, including venue fees, and issues where customers are asked for additional payments after signing contracts for packages known as 'SdeM' (studio, dress, makeup) without clear guidance on refund and penalty criteria.
In response, the Fair Trade Commission has been conducting focused inspections since August on major wedding venues and planning agencies to ensure they are properly disclosing important information regarding prices and penalties.
According to the current guidelines, companies must publicly disclose details and fees for basic services and optional items, as well as the criteria for calculating penalties and refunds in the event of contract cancellation or termination.
Important information, including prices, must be made available on the company's website or through the Korea Consumer Agency's 'Fair Price' platform, and it must also be indicated on the cover of contracts. If service prices or refund criteria vary by partner company, that information must be displayed separately for each partner.
The commission's findings revealed that the 17 companies did not comply with these obligations.
Some companies omitted prices for optional items from their websites, the Fair Price platform, or contract covers. There were also instances where details about services, prices, penalties, and refund criteria were not displayed separately for each partner company.
Methods that effectively make it difficult for consumers to access price information may also be considered violations of disclosure obligations. The commission noted that requiring consumers to register or input personal information to access price information could be deemed an unfair restriction on access to important information.
The Fair Trade Commission plans to continue monitoring the disclosure practices of wedding service providers regarding price information.
This initiative aims to reduce the longstanding issues of opaque pricing and additional charges in the wedding service market and to encourage competition among companies based on price and quality.
A commission official stated, "We will continuously check for violations of the important information disclosure guidelines in the wedding service sector and aim to promote competition in quality and pricing among companies, thereby alleviating the financial burden on engaged couples."
On October 16, the commission announced it has initiated procedures to impose fines on these companies for violating the 'Important Information Disclosure and Advertising Guidelines' in the wedding service sector.
The commission has notified the businesses of the impending fines and will finalize the amounts by the end of the month after a period of at least 10 days for them to submit their opinions.
This inspection follows the full implementation of the important information disclosure guidelines, which began after a grace period ended in May, aimed at increasing transparency in pricing for wedding venues and planning services.
Concerns have been raised in the wedding service market about rising costs, including venue fees, and issues where customers are asked for additional payments after signing contracts for packages known as 'SdeM' (studio, dress, makeup) without clear guidance on refund and penalty criteria.
In response, the Fair Trade Commission has been conducting focused inspections since August on major wedding venues and planning agencies to ensure they are properly disclosing important information regarding prices and penalties.
According to the current guidelines, companies must publicly disclose details and fees for basic services and optional items, as well as the criteria for calculating penalties and refunds in the event of contract cancellation or termination.
Important information, including prices, must be made available on the company's website or through the Korea Consumer Agency's 'Fair Price' platform, and it must also be indicated on the cover of contracts. If service prices or refund criteria vary by partner company, that information must be displayed separately for each partner.
The commission's findings revealed that the 17 companies did not comply with these obligations.
Some companies omitted prices for optional items from their websites, the Fair Price platform, or contract covers. There were also instances where details about services, prices, penalties, and refund criteria were not displayed separately for each partner company.
Methods that effectively make it difficult for consumers to access price information may also be considered violations of disclosure obligations. The commission noted that requiring consumers to register or input personal information to access price information could be deemed an unfair restriction on access to important information.
The Fair Trade Commission plans to continue monitoring the disclosure practices of wedding service providers regarding price information.
This initiative aims to reduce the longstanding issues of opaque pricing and additional charges in the wedding service market and to encourage competition among companies based on price and quality.
A commission official stated, "We will continuously check for violations of the important information disclosure guidelines in the wedding service sector and aim to promote competition in quality and pricing among companies, thereby alleviating the financial burden on engaged couples."
* This article has been translated by AI.
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