Whale, dolphin prices soar under regulatory pressure

Home > Business > Finance

print dictionary print

Whale, dolphin prices soar under regulatory pressure

The most expensive whale sold in Korea over the last two years was priced at 96.5 million won ($85,690), a local fisheries association said yesterday.

According to the National Federation of Fisheries Cooperatives, a minke whale was sold for the record price in the southeastern port city of Pohang in December last year, becoming the most expensive one traded between 2010 and 2011.

The average price of one minke whale doubled last year to 600 million won year-on-year, the cooperative said.

The most expensive dolphin fetched 9 million won in the cited period, it noted, with its average price set at 5 million won in 2011, up 66.7 percent from 2010 prices.

The price hike is attributable to toughened regulations on the whale trade that have caused some whalers to rely on commission agents to complete necessary paperwork for the sale process, cooperative officials said.


More in Finance

[NEWS ANALYSIS] As foreigners rush back, market does an about-face

CU gets into the foreign exchange transaction business

Kospi hits another record high despite Covid spike

5-day winning streak ends as Kospi drops 0.62 percent

Debt is the latest hot product being pushed into the market

Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)

What’s Popular Now