Jeju moves to cap car rental discounts, end price wars

“Jeju officials announced Wednesday that the southern island will cap car rental discounts and standardize vehicle damage waivers, a sweeping regulatory effort to stabilize chaotic pricing and curb rising consumer disputes on the popular holiday destination. Under a legislative notice, rental companies on the island will be prohibited from discounting their registered daily rates by more than 60 percent. The rule, which replaces a decade-old rate-calculation regulation, follows a March amendment to the province’s rental car ordinance. The move aims to halt aggressive undercutting among the island's many operators, which officials say has fueled a race to the bottom that ultimately compromises service quality and safety. Under the new framework, base rental rates must be anchored to objective financial data, including corporate accounting records and financial statements. It also addresses the ambiguity of vehicle damage waivers. For the first time, the province will explicitly define available waiver types, deductibles, coverage limits and "lost-use" fees — details often buried in fi

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