Chun Doo-hwan's Trinkets to Go Under the Hammer

      November 19, 2013 10:58

      Gems (left) seized from ex-president Chun Doo-hwan and a luxury watch seized from former Shindongah chairman Choi Soon-young /Courtesy of Korea Asset Management Corp.
      Luxury watches and gems seized from disgraced ex-president Chun Doo-hwan and his family will be put up for auction. The assets were seized as part of an unpaid fine of W220.5 billion (US$1=W1,058) for corruption in office imposed by the Supreme Court in 1997.

      Korea Asset Management Corp. said Monday it is selling 108 assets, including diamonds, rubies, sapphires and four limited centennial edition Cartier watches valued at W10 million each through the auction website www.onbid.co.kr between Dec. 16 and 18.

      KAMCO will also auction off a Vacheron Constantin watch valued at W110 million and commemorative Seoul Olympic and Russian coins seized from former Shindongah Group chairman Choi Soon-young for unpaid taxes.
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