War on drugs hinges on their prices

Meanwhile

War on drugs hinges on their prices

Published: 12 Oct. 2023, 19:58 Updated: 13 Oct. 2023, 11:00

HAN YOUNG-IK
The author is the political news editor of the JoongAng Ilbo.

On Sept. 8, drug police praised the Yeongdeungpo Police Station for “hitting the jackpot” after officers seized 27.8 kilograms (61.3 pounds) of methamphetamine, equivalent to 926,000 units and worth 83.4 billion won ($62.2 million). It is rare to confiscate pure methamphetamine, not synthetic drugs, in tens of kilograms. The police investigation confirmed an extensive drug distribution organization across Korea, China and Malaysia.

Due to an embargo, the case was reported on Oct. 10. But the report did not garner much attention as drug cases have become more common in Korea. Shocking drug cases had been reported one after another, including the drug-infused drinks around private academies in Gangnam in April, and the police officer who fell to his death at a drug party in Yongsan District in September. Now, even a mass seizure of methamphetamine hardly attracts public attention.

Moreover, such large drug seizures are likely to occur more frequently. The domestic drug market is getting stronger day by day. The number of drug offenders increased from 2021 by 13.9 percent to 18,395 last year. The number of narcotics seized increased by 51.4 percent, and smuggling offenders by 72.5 percent during the period.

The price of narcotics shows the solidity of the drug ecosystem in a snapshot. The prices of drugs traded in the black market reflect production costs, logistics, and costs of the risk involving the transaction. Recently, the retail price of 1 gram of methamphetamine in Korea is set at 600,000 won, a 40 percent drop from 1 million won in the 2010s. Considering that minimum wage has more than doubled since 2010 to 9,620 won this year, drug prices have plunged. As the price of methamphetamine is 58,000 won per gram in the U.S. and 17,000 won in Thailand, the price may go down further.

Lower entry barriers create new demand for drugs. In a police crackdown from April to July, more than half of the drug offenders were in their 20s (30.9 percent) and 30s (21.8 percent). A police executive lamented, “No matter how we crack down, the price of narcotics continues to fall.”

The Yoon Suk Yeol administration has emphasized the “war on drugs’’ from the beginning. Since a large special investigation headquarters for drug crimes was set up in April, it has been expanded and reorganized in June. The government aims to increase the risk cost of drug distribution through a full-fledged crackdown and ultimately raise its price. The success of the policy will be based on the price in the end. I hope to see an announcement that drug prices have risen significantly rather than publicizing the arrest of drug offenders.