President Lee Jae Myung vows to recover illegal profits from ticket scalpers

  • President Lee Jae Myung vowed to recover profits from illegal ticket resales.
  • Police said the suspect generated about 2.4 billion won from nearly 9,000 tickets.
  • New ticket-scalping rules allow fines of up to 50 times illicit sales proceeds.

President Lee Jae Myung said authorities would pursue ticket scalpers and recover profits from illegal resales after police referred a man accused of earning about 2.4 billion won through nearly 9,000 tickets. The suspect allegedly resold tickets to K-pop concerts, foreign artists’ performances and sporting events at prices reaching 30 times face value, including a BTS ticket bought for 110,000 won and sold for 3 million won. Police said he used macros and accounts belonging to relatives, and used proceeds to buy an apartment and two commercial properties in Gyeonggi. Amendments to the Public Performance Act and the National Sports Promotion Act took effect on Aug. 28, banning illegal ticket purchases and resales and allowing administrative fines of up to 50 times the illicit sales proceeds. The existing account said prosecutors later indicted the suspect.

The information on this website is generated using AI and we cannot guarantee its accuracy. Please use it as reference information only.