The renowned entertainment company, Hybe, has generated over 1 trillion won in revenue from idol goods sales in the past three years. According to the data submitted by Hybe to the National Assembly’s Culture, Sports, and Tourism Committee, from 2021 to the first half of this year, the idol goods sales revenue reached 1.2 trillion won, accounting for 19.5% of Hybe’s total sales revenue. This revenue from goods sales even exceeded that from concert sales in the first half of this year.
Despite the substantial profits from goods sales, Hybe faced criticism for refusing or limiting refunds to consumers’ rightful return demands, which resulted in only a fine of 3 million won imposed by the Fair Trade Commission in August. This lenient penalty has raised concerns about the company’s business practices and customer service standards.
Representative Kang Yoojeong stated that the fine imposed on Hybe is negligible compared to its astronomical revenue from goods sales, highlighting the need for stricter penalties to deter unfair practices in the industry. The issue of regulating businesses that exploit fan loyalty for profit will be further discussed in future legislative sessions.
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