The South Korean Defence Ministry has announced that it is planning to sell over 100,000 aging rifles to gun enthusiasts in the US.

The plan to sell about 86,000 M1 and 22,000 carbines worth a possible $108m has already been approved by the US, according to South Korean Defence Ministry.

The US-supplied weapons used during the Korean and Vietnam wars have been kept at military warehouses and at times used by reserve forces for drills.

The military will sell off all the M1s but will retain about 640,000 carbines for reserve forces, reports a South Korean daily.

Military insiders said that importers were very interested in the weapons as many Americans want to buy them as curios for their collections.

M1s were made first in 1926 and used in World War II and the Vietnam War, while the carbines were first produced in 1941 and used during the 1950-1953 Korean War.