Wholesale Market Company

• The operator of wholesale market that sells Fisheries products entrusted from forwarders to intermediary wholesalers and designated bulk buyers by auction

Intermediary Wholesaler

• Merchant who sells Fisheries products listed to wholesale market and mediates the sales to retailers or mass consumers after buying them up, participating in auction with the establisher's permission

Designated Bulk Buyer

• Entrepreneur who purchases massively products participating in auction with intermediary wholesaler (department store and supermarket)

Auction Manager

• Person who leads overall auction, setting auction priority, estimating price and deciding successful bidder for listed Fisheries products, belonging to wholesale market corporation

Distribution Procedure

• Dealing with BWT(Bonded Warehouse Trade) Fisheries products(Importation of Fisheries products at the State of Tariff Reserved)

• Dealing with Imported Fisheries
• 1. 01In the case that general importer lists Fisheries products in the form of BWT to Wholesale Market
     it is the same as the case of corporation's listing of BWT fisheries However, the general importer should be registered as a Distributors at the Place of Production to Busan International Fish Market in advance
  2. 02In case that general importer lists Fisheries products after import(after customs clearance) to Wholesale Market
     the general importer should list them to Wholesale Market after registering as a Distributors at the Place of Production to Busan International Fish Market in advance and consult with the company or list them to the Wholesale Market after shipper suggests “lowest transaction price,” etc.
• Dealing with Coastal Fisheries products
• 1. 01In general, the listing of coastal Fisheries products is done when they enter into port after the price being gauged through the fishing ground of the National Federation of Fisheries products Cooperatives before leaving the fishing ground after corresponding fishing boat completes Fisheries products.
  2. 02Considering the capacity of Busan International Fisheries products Market's harbor facilities, it is judged that only ships belonged to the National Federation of Fisheries products Cooperatives like large purse seine or large otter trawl can use.
  3. 03The number of ships has been limited to nine a day since it turned out to be dangerous when large ship and fishing boat encounter each other near breakwater as a result of ship safety assessment service because of coastal fishing boat's going in and out of Gamcheon port and a Joint Fishing Boat Control Center is being operated in order to control this.
• Dealing with Unlisted Item (Transaction Permission of Unlisted Fisheries products)
• 1. 01Unlisted item is inappropriate Fisheries products and the likes. The wholesale market corporation sets up the items and terms, and intermediary wholesaler can trade the Fisheries products unlisted to the wholesale market if the items were approved by the establisher of the wholesale market.
  2. 02Unlisted item is designated by “market” in advance and if intermediary wholesaler wants to treat these items, he or she shall apply for that based on a separate format.
  3. 03Intermediary wholesaler treating unlisted item, with a special benefit which is the same as wholesale company, shall operate the amount of net assets, pay the deposit to forwarder and run settlement window, etc.
     ex) In case of the designation of shellfish as unlisted item ⇒ Application for the Permission of Unlisted Item Transaction (Intermediary Wholesaler→Office Chief)
     Step 1: Shellfish Forwarder ⇒ Step 2: The Purchase of Intermediary Wholesaler
     ⇒ Step 3: Selling in the Sales Agent
• Normal Price and Free Sale, etc.
• 1. 01In Wholesale Market, sale is done with the method of auction or bidding, however,
     • - In the case of listing and selling Fisheries products which was arrived immediately after price was determined in other Wholesale Market or Joint Market
     • - In the case that Wholesale Company sells to person other than intermediary wholesaler or designated bulk buyers with permission of the establisher
     • - In the case that auctioning or bidding method is extremely difficult due to natural disaster, or other inescapable reason - In the case that item gets through the investigation of Market Operation Committee, etc. due to little amount and minor intermediary wholesaler of the trade. ⇒ In the above case, Wholesale Market Company does the sale at normal price or free sale.
  2. 02In this case, the wholesale market corporation lists it at normal price to intermediary wholesaler or sells it to a person who has an intent to purchase it among intermediary wholesalers.