Fair Trade Commission to Investigate SM and YG for Unfair Idol Product Prices
It has been confirmed on August 16 that the Fair Trade Commission has begun investigating into the product prices set by entertainment agencies SM Entertainment and YG Entertainment, after complaints filed by Seoul YMCA.
Last month, the Seoul YMCA released a report on the multiple entertainment agencies’ idol merchandise prices, and filed a request to Fair Trade Commission to investigate into entertainment agencies abusing their prices. Fair Trade Commission has then chosen the two agencies with the most merchandise, SM Entertainment and YG Entertainment.
Seoul YMCA is claiming that these agencies are manipulative in their pricing as they argue that the agencies are taking advantage of their artists’ fanbase to sell overpriced items.
However, there is difficulty regulating the merchandise pricing done by the entertainment agencies due to the small and limited nature of the industry. Consequently, the Fair Trade Commission has also begun gathering data regarding the idol merchandise industry. They refused to comment on details regarding the case.