President to continue tradition of issuing commemorative watches

President Lee Jae-myung is looking at his watch at the presidential office in Yongsan, Seoul, Tuesday. Yonhap

In a nod to a unique piece of presidential symbolism, President Lee Jae-myung announced Wednesday that his administration would continue the long-standing tradition of commissioning custom-designed presidential watches. These timepieces, often bearing the seal of the Blue House, have become a coveted, if subtle, token of recognition and political influence under previous Korean leaders.

"After considering various suggestions, I concluded that a gift combining both symbolic meaning and practicality would be most appropriate, and I instructed the production of a cost-effective presidential watch," the president wrote in a Facebook post on Wednesday.

He further specified that his directive was for the production of a timepiece mindful of budgetary constraints, aiming to balance tradition with fiscal prudence.

His remarks come in response to recent media reports speculating that the current administration would break from the tradition.

The speculation stemmed from comments made by Rep. Jeon Hyun-heui, a three-term lawmaker from the Democratic Party of Korea, on a YouTube channel earlier this week. She recounted a dinner held last Saturday at the presidential residence, during which Lee reportedly responded to a question about producing a "Lee Jae-myung watch" by asking, "What’s the point of something like that?"

Following Jeon’s comments, several media outlets interpreted the statement as an indication that the Lee administration would not continue the custom, diverging from previous presidents who have distributed wristwatches engraved with their signature and the national emblem as commemorative gifts.

However, Kang Yu-jung, spokesperson for the presidential office, addressed the reports during a press briefing, Tuesday, clarifying that the president had, in fact, directed staff to explore popular gift items — including watches — for production as official souvenirs representing the head of state.

In his Facebook post, the president wrote, “Many people expressed disappointment and said that watches are among the most cost-effective and meaningful presidential gifts.”

He added, “As a symbol representing the Republic of Korea, we will prepare it with the utmost care to ensure it becomes a gift everyone can be proud of. Please look forward to it.”

On the left is a commemorative presidential watch produced during the Moon Jae-in administration, and to the right are presidential watches made during the Yoon Suk Yeol administration. Courtesy of the presidential office and Yonhap

The tradition of presidential watches dates back to the administration of former President Park Chung-hee. Since then, it has become customary for each president to commission a unique design as a keepsake, with the president’s name engraved in the back of the watch.

Produced and distributed by the presidential office, these watches have served not only as diplomatic and ceremonial tokens, but also as a kind of unofficial presidential merchandise.

Their value on the secondhand market often reflects the political fortunes and public perceptions of the administration that issued them. Typically gifted to foreign dignitaries, politicians, journalists and select individuals, the watches have become collectible items whose resale prices fluctuate based on the popularity of the president.

For example, after former President Yoon Suk Yeol was removed from office, listings for watches bearing his name surged on secondhand marketplaces. Once priced around 250,000 won ($182), their value dropped sharply — falling to as low as 50,000 won — reflecting the fallout from Yoon’s declaration of martial law last December.

The watch frequently spotted on President Lee Jae-myung’s wrist during meetings is a model from E-Land’s OST brand. While its official retail price is 59,900 won, it could be found for sale online for about 40,000 won before gaining widespread attention. The surge in popularity led to the watch selling out, prompting OST to update its online listings with the label “presidential” and take preorders for delivery by the end of July.