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I can't see the South Koreans being allowed to shred such creatures. Then again is it any different to harvesting fish? I suppose if they harvested them in a similar way and used them productively there wouldn't be an issue.
I know they're Gods creatures and all that but I dispise the things ever since I got a bad sting as a kid, I would not lose any sleep if McDonalds cornered the market for Jellyfish smoothies and they went into extinction.