According to translated reports, Chairman of the Consumer Dispute Arbitration Committee has given its final approval on the ruling that SM must pay an additional 10% of the ticket price to almost 800 consumers who chose to file for compensation for the cancellation of SM Town Live 09.
Chairman Kim Hak Geun said,”The verdict of paying an additional 10% of the ticket price, along with a full refund, as compensation for the indefinite postponement of the SM Town Live 09 Concert has been given its final approval.”
SM has already issued refunds to all ticket buys. However, many fans were coming from somewhere else and had already booked hotel rooms, plane tickets, arranged for various forms of transportation, etc. The money is scheduled to go out through Dream Maker Entercom starting on the 21st.
Though the verdict was not handed down by a court, the CDAC decisions holds “equal validity as a judicial decision”, meaning its authority is the same as if a court would have ruled against SM.
If SM fails to meet their obligations then they will be turned over to the Seoul District Courts and the courts will force SM to give the additional compensation money to those 792 people.
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