A retired CEO of a textile firm has been arrested for stealing high-end bicycles, Daegu Police said Tuesday.



The 63-year-old suspect allegedly stole 28 bicycles -- worth about 12 million won ($10,500) in total -- which had been parked around subway stations in Daegu.





(Yonhap)

A police search of the suspect’s home led to the confiscation of 15 bicycles. Six of them are priced at over 1 million won each, according to police. The rest of the stolen bikes were either used to rebuild new ones or given to the suspect’s acquaintances.



The suspect told police that he committed the crimes as he became interested in riding bicycles after he retired three years ago.



By Park Ju-young (jupark@heraldcorp.com)