SEJONG, Nov. 14 (Korea Bizwire) — South Korea’s corporate watchdog said Tuesday that it had foreign online travel agencies revise their unfair refund policies.
The Fair Trade Commission (FTC) said it has looked into provisions and clauses of four firms — Agoda, Booking.com, Hotels.com and Expedia — and discovered unfair terms that restrict the cancellation of contracts and refunds to customers.
Moreover, Booking.com and Hotels.com had provisions that the companies take no responsibility for offering false information on their Web sites, while Agoda kept their clients from seeking compensation for damages.
The watchdog said it has ordered them to revise the terms to let South Korean customers cancel contracts and get refunds if they want. It said other unfair clauses have already been changed.
“We expected that the revision will help establish healthier and fairer market order and increase consumer protection,” the FTC said in a release.