Those who bought tickets for the cancelled MBC Korean Music Wave concert from Sistic can get full refunds, Acting Minister for Culture, Community and Youth Lawrence Wong said in Parliament on Tuesday.

This is due to Sistic's policy of keeping the ticket sales revenues from most events until they are over, with exceptions only for event promoters with a proven track record, he said.

He was replying to Mr Lim Biow Chuan (Mountbatten), who asked if the Government would consider regulating concerts and events to ensure that ticket charges paid by consumers are secured if the event is cancelled.

Ticket purchases are covered under the Consumer Protection (Fair Trading) Act which lets them pursue civil action through the Small Claims Tribunal, noted Mr Wong.

Most concert tickets here are also sold through Sistic, with its practice of keeping sales revenue, he added. The Sports Hub's new ticketing system will also have a similar practice.

"For these reasons, there may not be a need to introduce new regulatory measures at this stage," said Mr Wong.

"Instead, the preferred approach is to push more on industry self-regulation and to raise consumer awareness."

He added that in 2013, there were only five cancelled events, and most had refunds.

The Korean concert at Gardens by the Bay, was to feature 13 acts, including Shinee, 2PM, EXO, Sistar and Kara, and charged $168 to $688 for tickets, before it was abruptly cancelled in November last year.