S. Korea's building permits grow 5.1 pct in H1

SEOUL, July 13 (Yonhap) -- Government permits for construction of residential houses and commercial buildings grew 5.1 percent on-year in the first half, the land ministry said Wednesday, pointing to a possible recovery in the country's sluggish construction industry.
According to the Ministry of Land, Transport and Maritime Affairs, construction permits were issued for a total of 119,240 units in the first six months of the year, compared with 113,421 units approved during the same period last year.
The total area of housing units and buildings authorized in the first half also grew 2.5 percent on-year to over 63.3 million square meters.
A change in the number of construction permits often represents a change in the market, allowing the government and construction companies to plan their future moves.
The first-half gain was led by the private home market as permits for private homes spiked 21.1 percent, in terms of space, from a year earlier to over 4.5 million square meters.
Permits for industrial plants dropped 19.2 percent to a little over 4.6 million square meters while those for apartment buildings also went up 5.7 percent to some 10.4 million square meters, according to the ministry.
The ministry's latest report also showed growing popularity of small multi-purpose buildings, known here as officetels, as permits for such buildings grew 120 percent on-year to 389 units or a little over 1 million square meters in space from 162 units or 464,000 square meters in the first half of 2010.
bdk@yna.co.kr
(END)