South Korea to Fine Ticket Scalpers Up to 50 Times Face Value

South Korea's Ministry of Culture, Sports and Tourism said on Friday it will fine people who illegally resell concert and sports event tickets up to 50 times the sale price as part of a crackdown on ticket scalping. According to Sina Finance, people who report illegal ticket purchases or resales may receive rewards of up to half of the scalper's fine. The ministry said the measures took effect on Friday under enforcement decrees for the revised Public Performance Act and National Sports Promotion Act. The revised laws, amended in February, ban buying tickets for resale and selling tickets at inflated prices, regardless of whether automated software was used to obtain them. Under the new rules, ticket sellers and online platforms must take steps to prevent illegal buying, selling, and resale. These include verifying user identities, operating reporting systems, and limiting the visibility of posts linked to suspected illegal transactions. Platforms must also restrict related posts when requested by designated reporting agencies. The South Korean government said those agencies will be allowed to request information from ticket companies and online platforms about suspected scalpers, including the identities of people posting ticket sales information and their internet records. Fines for illegal resellers will depend on the number of tickets involved and the amount of sales proceeds, with penalties ranging from two to five times the sale price. According to Sina Finance, the ministry said people who report illegal ticket purchases may receive rewards of up to 50 million won, or about $16,140, while those who report illegal ticket sales may receive rewards of up to 50% of the offender's fine.