E-Land chief pays $400,000 for Nobel Prize medal
E-Land Chairman Park Sung-suBy Lee Hyo-sikE-Land Chairman Park Sung-su has been making headlines for his hobby of collecting rare, expensive items from around the world.Park recently added a 1971 Nobel Prize medal to his list of items, at a cost of nearly $400,000.According to E-Land Group, Monday, Park, 62, took part in a recent auction organized by Nate Sanders, a U.S. auctioneer based in Los Angeles. There, he bought the Nobel Prize medal in economic sciences awarded to American economist Simon Kuznets in 1971.Kuznets received the prize for his interpretation of economic growth and was the first to introduce the concept of gross domestic product (GDP).Park purchased the medal for $390,848, nearly three times the initial bidding price of $150,000. From 1901 through 2014, a total of 889 Nobel Prize medals were awarded but only five were put up for auction, E-Land said.The business group specializing in the fashion and retail sectors said that the medal, along with Park’s other collections, will be displayed at a museum inside the group’s envisioned large-scale entertainm
Mar 2, 2015By Lee Hyo-sik