Abstract
Product prices are now one of the many areas of our daily life in which artificial intelligence is becoming increasingly important. Digitization, especially online trading, opens up completely new possibilities and gives price adjustments a big boost in various ways. Thanks to their computing speed, algorithms can not only change and vary prices very quickly. Their enormous capacities for collecting and processing information even make it possible to include consumer data in the price calculation and thus adjust prices individually. Although we have become accustomed to uniform prices, the price has never been a purely static construct. Fluctuating prices are not a new phenomenon. Pricing freedom prevails within the framework of private autonomy. The aim of this paper is to examine how Korean law can respond to the new challenges posed by algorithmic price diversity. The law currently seems to offer little help against the currently existing lack of transparency in relation to the pricing process, which can go hand in hand with automated price individualization. So far, there are no legal regulations for disclosing how prices are determined. A central concern when dealing with individualized prices concerns the existence of information asymmetries and the (in)transparency of pricing strategies.
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