The Fair Trade Commission (FTC) is set to inspect wedding venues and planning companies to ensure compliance with pricing information and cancellation fee disclosure requirements. This initiative aims to prevent unexpected additional costs for couples during the wedding planning process, including expenses related to venues, catering, dress rentals, and makeup services.
On July 30, the FTC announced that it will conduct a focused inspection starting August 1 to verify adherence to important information disclosure regulations for wedding service providers.
Couples have often faced challenges in obtaining advance information about venue rental fees, meal costs, dress rental prices, and makeup fees, leading to unforeseen expenses. In response, the FTC revised its important information disclosure regulations in November 2022, mandating the disclosure of wedding service prices.
Under the revised regulations, wedding service providers, including venues and planning companies, must display service details, prices, cancellation fees, and refund policies on their websites or on the Korea Consumer Agency's 'Fair Price' site, as well as on the cover of contracts. Notably, practices that restrict access to pricing information, such as requiring membership or personal information input, are considered violations of the disclosure obligation.
The upcoming inspection follows a six-month grace period since the regulations took effect, during which compliance rates have not sufficiently improved.
The FTC plans to directly check whether prices and refund conditions are properly displayed on websites, the Fair Price site, and contract covers. Businesses that fail to comply may face fines of up to 100 million won.
The FTC intends to gradually expand the scope of inspections by the end of the year to ensure ongoing monitoring and corrective measures. This effort aims to support couples in making informed decisions based on adequate pricing information.
On July 30, the FTC announced that it will conduct a focused inspection starting August 1 to verify adherence to important information disclosure regulations for wedding service providers.
Couples have often faced challenges in obtaining advance information about venue rental fees, meal costs, dress rental prices, and makeup fees, leading to unforeseen expenses. In response, the FTC revised its important information disclosure regulations in November 2022, mandating the disclosure of wedding service prices.
Under the revised regulations, wedding service providers, including venues and planning companies, must display service details, prices, cancellation fees, and refund policies on their websites or on the Korea Consumer Agency's 'Fair Price' site, as well as on the cover of contracts. Notably, practices that restrict access to pricing information, such as requiring membership or personal information input, are considered violations of the disclosure obligation.
The upcoming inspection follows a six-month grace period since the regulations took effect, during which compliance rates have not sufficiently improved.
The FTC plans to directly check whether prices and refund conditions are properly displayed on websites, the Fair Price site, and contract covers. Businesses that fail to comply may face fines of up to 100 million won.
The FTC intends to gradually expand the scope of inspections by the end of the year to ensure ongoing monitoring and corrective measures. This effort aims to support couples in making informed decisions based on adequate pricing information.
* This article has been translated by AI.
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