Former President Lee Myung-bak on Friday lost a lawsuit aimed at reversing the prosecution's sell-off of his home in southern Seoul as part of fines handed down to him for corruption charges, officials said.

Lee, who served as president from 2008 to 2013, is currently serving a 17-year jail sentence over embezzlement and bribery convictions. He was also handed a fine of 13 billion won ($11 million) and an additional forfeiture of 5.7 billion won.

The Seoul Administrative Court ruled against Lee in two suits filed against Korea Asset Management Corp. over the company's decision to sell the home and the subsequent public auction deal worth 11.2 billion won in July.

A court had ordered the freezing of his home in Nonhyeon-dong of southern Seoul and other real estate holdings at the request of prosecutors in 2018. An earlier request for the cancellation of the sale deal was rejected in July. (Yonhap)