The nation’s traditional orchid has set a record at auction, selling for 120 million won ($100,000), the Korea Agro-Fisheries and Food Trade Corporation (aT) said Monday. The aT said the orchid, called Taehwang (emperor), was sold at an event marking the first anniversary of the auction.
The orchid seller is known to have made enormous amounts of money buying and growing the plants.
The orchid sometimes sells for more 200 million won on the black market, the aT said.
“It takes decades to learn and become an orchid expert,” an Yonhap News Agency quoted an aT official as saying. “Some orchid lovers earn hundreds of millions of won by cultivating the plant.”
There are some 500,000 orchid lovers in Korea, and they grow the plants indoors after digging them up in the wild.