People enjoy the Seoul International Fireworks Festival at a park in Yeouido, Oct. 7, 2023. Korea Times photo by Park Simon

As the Seoul International Fireworks Festival on Oct. 5 nears, hotels and restaurants around Yeouido have raised their prices dramatically, with accommodation and meals offering fireworks views surging to as much as 10 times the usual rates.

Most high-floor rooms in hotels around Yeouido, known as prime viewing spots for the fireworks, are fully booked, according to officials from the hospitality industry, Friday.

At one hotel in Yeouido, a suite with a Han River view is priced at 3 million won ($2,200) per night. A standard deluxe room, which typically costs around 600,000 won on a weekend, has doubled to 1.2 million won for the night of the festival.

A hotel in Yongsan is offering a package that includes a room with a fireworks view and a dinner buffet for two, priced at 760,000 won. On a regular weekend, the same room, without dinner, can be booked for around 300,000 won.

The price increases are even more pronounced in restaurants. A buffet restaurant along the Han River, considered a prime spot for viewing the fireworks, has opted to accept only guests who purchase a festival package.

A VIP table for two by the window costs 599,000 won, while a table further from the window is priced at 499,000 won for two.

For comparison, the restaurant's regular weekend and holiday lunch prices are 29,900 won per person or 59,800 won for two. The package includes a steak and unlimited draft beer.

The 2023 Seoul International Fireworks Festival takes place in Yeouido, Oct. 7, 2023. Korea Times photo by Shim Hyun-chul

An Italian restaurant by the Han River has also introduced special pricing for the fireworks festival. A package offering only seating, wine and catering (without a meal) costs 280,000 won per person, while a full-course dinner package is priced at 380,000 won per person. Normally, a meal at this restaurant would cost between 20,000 to 30,000 won per person.

Restaurants within the 63 Building have similarly hiked prices for their festival packages. One restaurant is charging 132,000 won per person for a dinner course at seats without a fireworks view, but seats with a view are selling for over 300,000 won per person.

As prices for hotels and restaurants with good views skyrocket, many have criticized the aggressive pricing tactics.

Online comments reflect public frustration, with some saying, "It seems like every festival is just an excuse to gouge customers," "The same complaints surface every year, but nothing changes," and "Demand may justify some price increases, but this is excessive."

This article from the Hankook Ilbo, a sister publication of The Korea Times, is translated by a generative AI and edited by The Korea Times.