The Land Ministry estimated the asset value of Dokdo at 7.4 billion won and the refurbished four rivers at 51 trillion won, according to a report the ministry submitted to the National Assembly.

Land Ministry officials said that the government reevaluated all state-owned land assets including Dokdo and the nation’s major four rivers.

The report calculates the total properties under the supervision of the ministry as worth around 542.7 trillion won, which takes up about 35.6 percent of state assets, excluding those of local governments.

The Land Ministry said that the listed Dokdo’s numerical value aggregates real estate value at 1.07 billion won, building and residences at 3 billion won, the Dokdo Lighthouse at 3 billion won.

The ministry said that the listed numbers, however, do not reflect the potential value at the state level.

The “four rivers” ― Han River, Nakdong River, Geum River and Yeongsan River ― that evoked nationwide controversy were rated at about 51 trillion won ($45 billion).

The Land Ministry priced the Han River at about 29.9 trillion won, Nakdong River at about 14.4 trillion won, Geum River at about 6.2 trillion won and Yeongsan River at about 1.7 trillion won.

The government’s properties at Incheon International Airport stood at only 44.1 billion won as most of buildings and real estate are owned by the airport authority.

The nation’s No. 1 highway linking Seoul and Busan, Gyeongbu Highway, amounted to 11.9 trillion won.

By Chung Joo-won (joowonc@heraldcorp.com)