South Korea is planning to raise tens of millions of dollars by selling vintage US combat rifles to gun enthusiasts in the United States.

The ageing M1 and carbine rifles were used by US troops in the Korean and Vietnam wars before being donated to the South Korean military.

The rifles have been mothballed for years in military warehouses, but were occasionally used in drills by reserve soldiers.

The defence ministry in Seoul says it has won approval to sell more than 100,000 rifles.

The sale is expected to raise more than $120 million.