{"id":687,"date":"2026-10-29T13:16:55","date_gmt":"2026-10-29T04:16:55","guid":{"rendered":"https:\/\/magazine.samsammulsan.com\/glossary\/what-is-a-suhyup-broker-roles-of-local-wholesale-market-brokers-and-consignment-sale-transactions\/"},"modified":"2026-10-30T14:19:41","modified_gmt":"2026-10-30T05:19:41","slug":"what-is-a-suhyup-broker-roles-of-local-wholesale-market-brokers-and-consignment-sale-transactions","status":"publish","type":"glossary","link":"https:\/\/magazine.samsammulsan.com\/en\/glossary\/what-is-a-suhyup-broker-roles-of-local-wholesale-market-brokers-and-consignment-sale-transactions\/","title":{"rendered":"What is a Suhyup Broker? Roles of Local Wholesale Market Brokers and Consignment Sale Transactions"},"content":{"rendered":"

\"ParticipantsAuctions at Fisheries Cooperative Consignment Sale Centers involve both ‘brokers’ and ‘auctioneers.’ Based solely on their titles, it can be difficult to discern who purchases seafood and who conducts the auction.<\/p>\n

A broker is an individual who purchases seafood at a consignment sale center for wholesale or mediates sales; their legal designation is \u2018Local Wholesale Market Broker<\/a>\u2019. To operate as a Local Wholesale Market Broker, one must receive designation from the Consignment Sale Center operator, and their duties differ from those of a Local Auctioneer, who conducts auctions.<\/p>\n

We have summarized the designation requirements for Local Wholesale Market Brokers, the roles of each transaction participant at the consignment sale center, and the process by which oysters purchased through auction are supplied to clients.<\/p>\n

Inquire about Oyster Raw Material Purchase and Supply Procedures<\/a><\/p>\n

Designation Requirements and Transaction Qualifications for Fisheries Cooperative Brokers<\/strong><\/h2>\n

To become a Local Wholesale Market Broker, several conditions<\/a> must be met. One must be capable of transacting above a certain amount and must deposit a security bond to cover potential defaults on auction payments. Individuals who have not legally recovered from bankruptcy, or executives\/employees of the Fisheries Cooperative operating the consignment sale center who attempt to engage in the same business, cannot be designated as Local Wholesale Market Brokers. The designation period varies by consignment sale center: 5-10 years for corporations and 3-10 years for individuals.<\/p>\n

Local Wholesale Market Brokers may only trade seafood listed at the consignment sale center, and transactions between Local Wholesale Market Brokers are, in principle, prohibited. However, for seafood difficult to list at the consignment sale center, such as imported or deep-sea products, or for surplus quantities, transactions may be conducted with permission from the mayor, county chief, or district head. <\/p>\n

Transaction Participants and Distribution Process at Fisheries Cooperative Consignment Sale Centers<\/strong><\/h2>\n

When shippers, such as fishermen, bring seafood to the consignment sale center, the Fisheries Cooperative (Consignment Sale Center Operator) that opened the center takes charge, sells it on their behalf, and directly settles the sales proceeds with the shipper. Auctions are conducted by a Local Auctioneer, and the seafood is purchased by the Local Wholesale Market Broker or Local Market Participant who offers the highest bid. The seafood sold this way then moves through processors or wholesalers to retail outlets such as supermarkets and restaurants.<\/p>\n

Not all transactions at consignment sale centers proceed via auction. Regulations also stipulate fixed-price sales and private contracts in addition to auctions and bids<\/a>, and the actual transaction method is determined by relevant laws and the operating standards of the respective consignment sale center.<\/p>\n

\"Seafood<\/strong>Comparison of Roles by Transaction Participant at Fisheries Cooperative Consignment Sale Centers<\/strong><\/h3>\n

You can find information on individuals participating in consignment sale center transactions and their respective roles in the table below.<\/p>\n

\n
\n\n\n\n\n\n\n\n\n
Category<\/strong><\/td>\nPrimary Role<\/strong><\/td>\nTransaction Participation Method<\/strong><\/td>\n<\/tr>\n
Shipper<\/td>\nSeafood Shipment<\/td>\nShipping to Consignment Sale Center for Sale<\/td>\n<\/tr>\n
Consignment Sale Center Operator<\/td>\nConsignment Sale Center Operation and Transaction Management<\/td>\nTransaction Operation and Management<\/td>\n<\/tr>\n
Local Auctioneer<\/td>\nAuction duties, including price evaluation and determining successful bidders<\/td>\nConducting auctions upon appointment by the Consignment Sale Center Operator<\/td>\n<\/tr>\n
Local Wholesale Market Broker<\/td>\nSeafood purchase, wholesale, and sales mediation<\/td>\nParticipating upon designation by the Consignment Sale Center Operator<\/td>\n<\/tr>\n
Local Market Participant<\/td>\nDirect purchase of seafood at the Consignment Sale Center<\/td>\nParticipating after reporting in accordance with relevant laws<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n

While Local Wholesale Market Brokers must receive designation from the Consignment Sale Center operator, Local Market Participants only need to report their intent. This is why processors, retailers, or exporters can purchase seafood directly from the consignment sale center without going through a Local Wholesale Market Broker.<\/p>\n

Processing and Supply Process for Oysters Purchased by Fisheries Cooperative Brokers<\/strong><\/h2>\n

Oysters purchased at the consignment sale center may be transferred as raw materials, or they may undergo sorting, washing, freezing, and packaging to meet supply specifications. Some Local Wholesale Market Brokers have processing facilities and handle sorting and packaging, while others only purchase and transfer raw materials.<\/p>\n

When purchasing oysters for commercial use or frozen oysters<\/a>, it is crucial to differentiate between the raw material purchase price at the consignment sale center and the supply price. This is because supply quotations vary depending on whether sorting and processing are involved, product specifications, packaging units, and transportation conditions.<\/p>\n

Verify Brokerage and Processing Roles<\/a><\/p>\n

History of Samsam Moolsan as Fisheries Cooperative Broker No. 33<\/strong><\/h2>\n

Samsam Moolsan joined the Chungmu Branch of the Diver’s Fisheries Cooperative as Broker No. 33 in March 1979<\/a>, and in May 1988, joined the Tongyeong City Fisheries Cooperative with the same number. Samsam Moolsan directly participates in Tongyeong oyster auctions to purchase raw materials.<\/a> At the first auction for fresh oysters at the Oyster Aquaculture Fisheries Cooperative in October 2026, CEO Yu Tak-kwan received the Meritorious Broker Award<\/a>.<\/p>\n

Frequently Asked Questions about Fisheries Cooperative Brokers<\/strong><\/h2>\n

Are Fisheries Cooperative Brokers employees of the Fisheries Cooperative?<\/strong><\/h3>\n

No. Fisheries Cooperative Brokers are individuals or companies designated by the Fisheries Cooperative to buy and sell seafood at consignment sale centers. Samsam Moolsan is also a separate company from the Fisheries Cooperative, participating in auctions under the designation of Broker No. 33.<\/p>\n

Can processors purchase directly without going through a Local Wholesale Market Broker?<\/strong><\/h3>\n

Yes, it is possible. They can purchase directly by reporting as a Local Market Participant, and inquiries about the reporting procedure can be made to the consignment sale center where they intend to transact.<\/p>\n

Can I entrust a Fisheries Cooperative Broker with oyster sorting and packaging?<\/strong><\/h3>\n

Yes, if the company has processing facilities. Samsam Moolsan sorts, washes, freezes, and packages oysters purchased through auction at its own production facilities<\/a> before supplying them. <\/p>\n

If designated at one consignment sale center, can I transact at other consignment sale centers?<\/strong><\/h3>\n

No. You must obtain separate designations for each consignment sale center where you wish to transact. If you have received designations at multiple consignment sale centers, you can transact at all of them.<\/p>\n

How can I verify auction purchase records and supply records?<\/strong><\/h3>\n

Compare the item, quantity, and transaction date on the transaction statement with raw material receipt records and product shipment records. If quantities or product forms changed during processing, also verify the relevant work records.<\/p>\n

Consult for Bulk Oyster Supply<\/a><\/p>\n

References<\/strong><\/h2>\n

National Law Information Center | Act on the Management and Support of Fisheries Product Distribution<\/a><\/p>\n

Samsam Moolsan | Company History<\/a><\/p>\n

Samsam Moolsan | Introduction to Production Facilities<\/a><\/p>\n

Samsam Magazine | What Kind of Company is Samsam Moolsan?<\/a><\/p>\n

Hansan Shinmun | The Season of Nature’s Gift, ‘Oysters,’ Has Returned<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

We have summarized the designation requirements and roles of Local Wholesale Market Brokers, often called Suhyup brokers. This guide covers how they differ from auctioneers and market participants, how oysters purchased at consignment sale centers are supplied, and the history of Samsam Co., Ltd. as Broker No. 33.<\/p>\n","protected":false},"featured_media":688,"template":"","class_list":["post-687","glossary","type-glossary","status-publish","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/magazine.samsammulsan.com\/en\/wp-json\/wp\/v2\/glossary\/687","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/magazine.samsammulsan.com\/en\/wp-json\/wp\/v2\/glossary"}],"about":[{"href":"https:\/\/magazine.samsammulsan.com\/en\/wp-json\/wp\/v2\/types\/glossary"}],"version-history":[{"count":1,"href":"https:\/\/magazine.samsammulsan.com\/en\/wp-json\/wp\/v2\/glossary\/687\/revisions"}],"predecessor-version":[{"id":718,"href":"https:\/\/magazine.samsammulsan.com\/en\/wp-json\/wp\/v2\/glossary\/687\/revisions\/718"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/magazine.samsammulsan.com\/en\/wp-json\/wp\/v2\/media\/688"}],"wp:attachment":[{"href":"https:\/\/magazine.samsammulsan.com\/en\/wp-json\/wp\/v2\/media?parent=687"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}