President Yoon Seok-yeol’s wristwatch on the used market, unexpected price revealed

President Yoon’s Commemorative Watch
Priced around 200,000 KRW ($170) in the second-hand market
Popular as a unique collectible

All past governments have produced ‘Presidential Commemorative Watches’ as gifts for figures across all sectors of society. As these watches are typically used as thank-you gifts, they are not available for sale. However, they have recently become a hot topic as they have surfaced in the second-hand market.

Recently, a post selling a ‘President Yoon Seok-yeol wristwatch’ appeared on the second-hand trading platform ‘Carrot Market.’ The seller listed the ‘President Yoon Seok-yeol men’s and women’s wristwatches’ as new products, selling them for 200,000 KRW ($170) and 150,000 KRW ($127), respectively.

The President Yoon commemorative watch was first unveiled on May 25th last year. It was produced by the Presidential Office as ‘Commemorative Item No. 1’.

The front of the watch features the phoenix motif symbolizing the Presidential Office and the President’s emblem in the shape of a rose of Sharon in gold, as well as the handwritten signature of ‘President Yoon Seok-yeol.’ The back of the watch bears the inauguration slogan ‘Again, Korea! A new country for the people.’

It appears that the watches, which were given as gifts at group events, have surfaced in the second-hand market under the guise of unique collectibles.

The President Yoon commemorative watch first appeared on Carrot Market around last year’s Chuseok holidays. At that time, a post selling it for 300,000 KRW ($255) was listed, and many posts were selling it for around 200,000 KRW ($170) based on unopened products.

Netizens who came across the post showed various reactions, such as “It seems like a perfect watch for collectors,” “There are some listed in my local Carrot Market, but none of them have been sold,” “I wonder if the supporters will buy it,” and “Even if it’s a presidential watch, the quality doesn’t look good and 200,000 KRW seems expensive.”

Meanwhile, the commemorative watches of past presidents have often been devalued as they were seen as implying a ‘special connection with the president’ during their tenure.

Especially during the military government era, including former President Park Chung-hee, the Presidential Commemorative Watches, which were produced in limited quantities, were regarded as symbols of absolute power and closeness to power. Perhaps because of this, the governments of Kim Young-sam and Kim Dae-jung significantly increased production and gifted them to various sectors of society. It is said that during the Kim Young-sam administration, there was even a saying, “If you can’t wear a YS watch, you are out of the loop.”