[News Today] FIREWORKS FESTIVAL SPARKS PREMIUMS

[LEAD]
The Seoul International Fireworks Festival is fast approaching at Yeouido Hangang Park. As the event nears, prices for hotels and restaurants around Yeouido are soaring. What's even concerning is that on secondary trading sites, listings are popping up for premium viewing spots at steep prices.

[REPORT]
Colorful fireworks will light up the fall night sky over the Hangang River.

The Seoul International Fireworks Festival marks its 20th anniversary this year.

Hotels near Yeouido are receiving a barrage of inquiries ahead of the festival slated for next weekend.

Hotel staff (VOICE MODIFIED)
We're near the fireworks, so we get a lot of booking inquiries.

Hotel fees have surged by hundreds of thousands of won.

Hotel staff (VOICE MODIFIED)
Our system is overbooked for the day of the festival. Our fees are not fixed.
They change according to occupancy rates.

Some customers who have made dining reservations say they were asked to pay four times as much as usual.

Goyang resident (VOICE MODIFIED)
I booked for the festival two months ago, then got a call saying it's 300,000 won (USD 230), asking if I wanted to keep or cancel.

The riverfront park, a popular public spot for resting, is one of the best places to watch fireworks.

Hotel packages and dining coupons with the Hangang River view are being sold for a premium of over a hundred thousand won, or around 76 dollars, on platforms selling used items.

Some look for services to grab good spots to watch fireworks for 150,000 won, or 115 dollars. There are also posts looking to lease balconies and rooftops in nearby buildings for as much as 300,000 won, or around 230 dollars.

Some 500,000 people are expected to attend the upcoming fireworks festival.

The Seoul Metropolitan Government plans to deploy more than 300 firefighters and ambulances to prevent accidents.