Taiwan passed a law to punish so-called ticket scalpers after seeing the prices of Blackpink's concert tickets soar in the country earlier this year, warning up to three years of prison for anyone selling tickets to cultural events at a price higher than the original.

The amendment to the Development of the Cultural and Creative Industries Act was passed last Friday by the Taiwanese cabinet, dictating that anyone caught buying then selling a ticket higher than the retail price will face up to three years in prison and up to 50 times the original ticket price as fine.

"People using misleading information and methods including online algorithms to buy large quantities of tickets for resale could face a maximum three-year prison sentence or a fine of NT$3 million ($97,500)," according to Taiwan's Liberty Times.

The Taiwanese Ministry of Culture will also work with the police to take down scalpers and those seeking to profit from ticket reselling. The ministry will also hand in plans to use consumers' real names when buying tickets and develop a platform dedicated to reselling and trading tickets.

Those who make reports on scalpers will be given up to NT$100,000 or up to 20 percent of the perpetrator's fine amount as a reward.

The legislation comes two months after girl group Blackpink held two concerts in Kaohsiung on March 18 and 19, when tickets sold by scalpers soared as high as 40 times the original price tag to NT$400,000 each.

Boy band Super Junior also held two concerts last November and saw its resold ticket prices rise up to 17 times the original price.

BY YOON SO-YEON [yoon.soyeon@joongang.co.kr]