South Korean man arrested for 2.4 billion won ticket scalping scheme

A man in his 30s has been arrested and referred to prosecutors for operating a massive illegal ticket scalping operation in South Korea. Between September 2018 and April 2024, the suspect used macro programs and multiple accounts belonging to family and relatives to purchase 8,967 tickets for high-demand events, including BTS concerts, Seventeen fan meetings, Bruno Mars performances, and football matches.

The suspect allegedly resold these tickets at massive markups, sometimes up to 30 times the original price. For example, a BTS ticket originally priced at 110,000 won was resold for 3 million won. Total sales are estimated at approximately 2.4 billion won, with police estimating that about two-thirds of that amount constitutes illegal profit.

Authorities revealed that the suspect used proceeds from the scheme to purchase an apartment and two commercial buildings. Police have taken measures to seize approximately 1.26 billion won in criminal assets, including the commercial properties and bonds. Despite attempts to destroy evidence by formatting electronic devices and closing businesses, forensic analysis allowed investigators to confirm the crimes.