Expensive watches and jewelry confiscated from disgraced ex-President Chun Doo-hwan were auctioned off at high prices by the Korea Asset Management Corp. between Monday and Wednesday.
The items were seized as part of an unpaid fine of W220.5 billion (US$1=W1,060) for corruption in office imposed by the Supreme Court in 1997.
They included four limited-edition centennial Cartier watches valued at W10 million and 108 rubies, diamonds and sapphires valued at W58 million. The Cartier watches sold instead for W32.2 million, while the jewels fetched W63.4 million.
A KAMCO official said the items drew between 1,500 and 3,500 views on its on-line bidding site, compared to a normal average of just 100 to 200 views.