On the 11th, when sales of the inauguration commemorative stamp for President Lee Jae-myung began. Even at 7 a.m., more than 50 people were already lined up around the entrance to the Seoul Central Post Office in Myeong-dong, Jung District, Seoul. Some brought folding stools and reclined half-lying down as they waited for the stamp sales. As the early morning temperature dropped to 19.9 degrees, some wore coats or wrapped themselves in blankets.
A person surnamed Go, 72, got in line from 12:30 a.m. that day but ended up 18th. Go said, "I have been collecting inauguration commemorative stamps for every president since former President Rhee Syng-man," and added, "If I show the stamps to my descendants, they can learn what kind of people the former presidents were. That is the charm of stamp collecting."
◇ When the post office opened, about 150 people were in line… some collectors said the goal was the "commemorative postmark"
Korea Post began selling the inauguration commemorative stamp for President Lee Jae-myung at about 230 post offices nationwide and at the Internet Post Office from 9 a.m. that day. Normally, presidential commemorative stamps are issued on inauguration day, but because Lee took office immediately after winning the election, they came out on the 100th day.
The issuance volume is 220,000 sheets (3.28 million single stamps), 450,000 small sheets, and 50,000 commemorative stamp albums. The price is 430 won per single stamp and per sheet, and 27,000 won per album. When 20,000 albums were presold at the Internet Post Office last month, they sold out in half a day.
The number of people waiting for the president's commemorative stamp grew as morning broke. By the 9 a.m. start time, the line had surpassed 150 people. They eased their fatigue with bread and coffee while chatting with those in front and behind. When asked, "Aren't you tired?" they laughed and said, "The stamp is more important." Most were hobbyists who collect stamps regardless of political leaning.
The person first in line right in front of the main gate of the Central Post Office said they had been waiting since 10 a.m. the previous day (the 10th). A person surnamed Jin, 59, who left home in Anyang, Gyeonggi Province at 3:30 a.m. and arrived at 5 a.m., said, "Stamp collecting is not just a hobby but joy itself."
The reason collectors line up even from the previous day is also to get a "postmark." If you buy the commemorative stamp, you can stamp it on an envelope to carry it in, and the purchase date is stamped as well. Those who bought the stamps gathered in small groups at tables inside the post office, spread out their newly purchased stamps, and applied postmarks. A person surnamed Shin, 54, took out a handmade envelope from a bag and said, "My goal is the commemorative postmark," adding, "Putting the postmark here is the biggest fun."
◇ Prices for trading former presidents' commemorative stamps vary by popularity and issuance volume
The presidential inauguration commemorative stamp was first issued when former President Rhee Syng-man took office as the inaugural president in 1948. Since then, all former presidents except former President Yun Po-sun have had them made. Former President Park Chung-hee issued commemorative stamps for each of his five terms.
The issuance volume differs each time. Former President Chun Doo-hwan's commemorative stamp is the largest at 11 million. Second is former President Moon Jae-in's at 9.3 million. By contrast, former President Park Chung-hee printed only 500,000 for his first inauguration, then increased it to 3.5 million for his fifth. This time, President Lee Jae-myung's commemorative stamp totals 3.73 million single stamps.
The prices at which collectors trade commemorative stamps vary with former presidents' popularity and issuance volume. The most expensive is former President Rhee Syng-man's first inauguration stamp. With an issuance of only 50,000, a single stamp trades at 800,000–900,000 won.
Former President Park Chung-hee's fifth-inauguration stamp was issued in only 500,000 copies and, after 62 years, now trades at 120,000–150,000 won per stamp. In a Korea Gallup poll last year, former President Park ranked second as the "most respected president" at 24%, following former President Roh Moo-hyun at 31%.
There have also been cases where popularity led to more printings and then a price crash. A merchant at an antiques shop in the Hoehyeon underground arcade said, "Former President Moon Jae-in's stamp was very popular at first, but after additional issuance the price fell sharply," adding, "There needs to be a commitment on issuance volume for the market to hold."
Former President Moon's commemorative stamp gained popularity among supporters by compiling images from childhood to his inauguration. The stamp album, priced at 23,000 won, was originally issued in 20,000 copies, but after it sold for over 100,000 won on secondhand trading sites, an additional 249,000 copies were issued. A Korea Post official said, "There are no plans for additional issuance for this inauguration stamp."