Late South Korean painter Lee Jung-seob's painting of a cow was auctioned off for four-point-seven billion won, or four-point-four million U.S. dollars.
It's the sixth highest bidding price for an art piece by a contemporary Korean artist. The other five are held by Kim Whan-ki.
On Thursday, the painting "A Bull' was up for bidding at an auction center in central Seoul.
Telephone bids raised the price to a record level for the artwork which was on the market for the first time in eight years.
Lee's previous auction record was also for a painting of a bull, which was sold at three-point-five billion won in 2010.