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LATAM TRADE

News & Contingencies

20/06/2019

REFUNDS - Refunding procedure for tickets issued in South Korea

 

Description:

South Korean law requires air tickets to explicitly offer the possibility of refund depending on how early in advance the request is made. For this reason, the regulation has been updated to ensure that tickets issued in South Korea include the conditions for complying with the current regulation.

 

However, tickets issued in South Korea for travel originating outside the country may not be required to indicate the conditions for refund. Therefore, an exceptional procedure has been established for these cases. SeeConsiderations”.

Scope:

Tickets issued in South Korea.

Implementation date:

Immediate

Considerations:

Tickets for travel origin in South Korea will include this rule in Category 16 of the fare regulation with the following text:

 

BEFORE DEPARTURE

 

THERE IS NO PENALTY CHARGED FOR REFUND THAT IS REQUESTED UP TO 91 DAYS BEFORE DEPARTURE.

 

A PENALTY OF 15 PERCENT WILL BE CHARGED FOR REFUND THAT IS REQUESTED 31 ~ 90 DAYS BEFORE DEPARTURE.  

 

A PENALTY OF 29 PERCENT WILL BE CHARGED FOR REFUND THAT IS REQUESTED WITHIN 30 DAYS BEFORE DEPARTURE.

 

Keep in mind that International tickets with "REF" fare components, will keep this condition only if the refund is requested BEFORE the date of travel. After commencement of the trip, only taxes will be refunded.

Exception:

Exceptional refund process for tickets issued in South Korea when point of commencement is outside South Korea:

 

- Calculate the refund according to local regulation KFTC.

- When entering the refund request via GDS or BSP, add the KRREFUNDPOLICY in:

          - If via BSP in the field “Reason for Refund”

          - If via GDS in the waiver code

 

With this code, audit teams will recognize refund requests intended to comply with this regulation.

 

All other conditions for refund remain unchanged.

LT Section:

Sale | Refunds