Total assets owned by the government, companies and individuals in South Korea grew 3.5 percent on-year in 2012 due to an increase in land and other tangible fixed assets, data showed Tuesday.

According to the data provided by Statistics Korea, they held a combined 8,677.4 trillion won ($8.18 trillion) worth of assets at the end of 2012, up from 8,382.1 trillion won tallied in 2011.

It is 2.2 times larger than in 2002 when they held about 3,925.5 trillion won, the data showed.

The increase is due to more land and tangible fixed assets, such as buildings and machinery equipment. The two types of assets accounted for 89.1 percent of the total, the data showed.

Land was estimated at 3,884.1 trillion won in 2012, up 3.7 percent from a year earlier. Tangible fixed assets came to 3,844.9 trillion won last year, up 4 percent from a year earlier, according to the data.

Of the total, 30.3 percent or 1,177 trillion won worth of assets were concentrated in Seoul, while 28.7 percent or 1,115.2 trillion won worth of assets were located in its surrounding area, including Gyeonggi Province, the data showed. (Yonhap News)