July 31, 2013 11:55
Damage from the red tide is increasing on the southern coast and threatening to decimate fish farms in the area as it spreads from Busan and up the eastern coastline to Ulsan and Gyeongju.
The red tide, an excessive algae bloom, releases toxins and chokes off oxygen in the water, killing around 13.1 million fish and other sea creatures at 116 fish farms along the southern coast, according to the South Gyeongsang provincial government.
The damage is now estimated at W8.6 billion (US$1=W1,114) and could rise to over W10 billion as officials continue to assess the damage.
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