Korean Coast Guard Seizes $93 Million of Cocaine in Busan
This is a huge drug bust in Busan:
The Coast Guard has seized 35 kilograms of cocaine from a container ship in the southern port city of Busan, officials said Saturday.
Korea Times
The drug has an estimated street value of 105 billion won (US$93.94 million), the authorities added.
The packages were found on a Liberia-flagged ship, which departed from Colombia Dec. 15 and arrived at Busan New Port, Jan. 19. Their exteriors had a scorpion-shaped logo, which is usually used by Colombian drug cartels.
You can read more at the link.
That’s $2660/gram compared to gold under $4. Price has gone up since the August 2019 article where it was a smidge above $2500.
So… $1800/kg in Columbia… and max $20,000/kg in the American southwest… and $2,657,143/kg in Korea?
Conclusion: cops can’t do math
Maybe people in Korea are just more willing to pay premium prices?