The Fair Trade Commission announced on the 10th that it has signed a memorandum of understanding (MOU) with major companies to voluntarily disclose wedding venue rental fees and wedding planner 'sdeume' (studio photography, dress lending, and makeup) service prices starting Jan. 27 next year.
Under this agreement, not only essential items such as wedding venue rental fees, decoration expenses, and food and beverage expenses, but also additional production expenses and shooting fees will be disclosed through company websites or the Korea Consumer Agency's 'Champaek' platform. Wedding planner companies will update basic 'sdeume' amounts, high-quality dress selection costs, and appointed planner fees quarterly (April, July, October).
The Fair Trade Commission intends to mitigate the burden on prospective newlyweds affected by high wedding expenses and information asymmetry through this measure and to enhance transparency in the wedding service market. According to a government survey conducted from May to November, the average expenditure on wedding services was 24.68 million won. Consumer complaints increased annually from 1,038 cases in 2021 to 1,505 cases last year.
The Fair Trade Commission plans to establish a standard wedding planner contract next year to support consumers in contracting with reliable companies. Currently, the disclosures are made voluntarily, but the government is working on enacting the 'Wedding Service Act' to mandate price disclosure at a government-wide level.
Fair Trade Commission Chairman Han Ki-jung stated at the signing ceremony, "We urge companies that have not yet participated in the agreement to voluntarily join, and we will spare no governmental policy efforts to ensure that the disclosure of wedding service prices takes root in the market."