Mass die-offs of flounders in Jeju may double prices in 2025

(MK database)

Jeju Island, South Korea’s largest flounder farming region, is on alert after the summer’s extended heatwave has led to mass die-offs at flounder farms.

The resulting shortage has driven up farm prices from 15,000 won ($10.77) per kilogram last spring to 22,000 won now, and prices are projected to rise further, potentially reaching 27,000 won by next spring.

Retailers are already bracing for the impact.

Emart, the country’s largest discount store chain, plans to shift its focus from farming 2-kilogram flounders to larger 3-kilogram ones to reduce costs.

However, industry experts warn that controlling the price surge may be difficult.

“With farm prices this high, the consumer price for 260-gram flounder sashimi, which was around 24,000 won this spring, could exceed 30,000 won, while 360-gram sashimi may top 40,000 won,” said Kang Soon-chang, a fish buyer at Emart.

Projected consumer prices for flounder sashimi could soar to over 110,000 won per kilogram.

Kang noted that “this estimate includes the maximum price discount that Emart could provide to curb next year’s price hikes.”

According to the Korea Maritime Institute’s fisheries observation center, Jeju covers about 60 percent of Korea’s flounder output, with Wando accounting for 35 percent and other regions making up the remaining 5 percent.

The nation’s total flounder output reached 37,246 tons in 2023, with Jeju contributing 61.4 percent. Total production, however, dropped significantly to 28,866 tons from January to September 2024, with Jeju’s output down to just 15,237 tons, largely due to this summer’s extreme conditions.

The mass die-offs are directly linked to the unique seawater farming system used in Jeju’s flounder farms.

Flounders thrive in temperatures between 21 to 24 degrees Celsius; at 26 degrees, they stop eating, and at 29 degrees, they begin to die. This year, the sustained high temperatures even after Chuseok made mass die-offs unavoidable.

Oh Ki-Soo, CEO of Happy Flounder, Jeju’s largest flounder farm in Seogwipo, explained that even with maximum efforts through the end of 2024, production levels are unlikely to exceed the low 20,000-ton range.