SEOUL, March 3 (Korea Bizwire) — The overall space authorized by the government for the construction of high-rise buildings has shrunk in the greater Seoul area, while expanding in other provinces, data showed Thursday.
The Ministry of Land, Infrastructure and Transport reported that the space authorized for the construction of buildings that are more than 30 stories tall amounted to 16.65 million square meters last year, up by 40.4 percent from the previous year.
At 78.9 percent, the majority of all space for the construction of high-rise buildings in the country was concentrated outside of the greater Seoul metropolitan area.
The space authorized for tall buildings in and around Seoul was 3.51 million square meters, down by 33 percent from the previous year. Outside of Seoul, in contrast, the authorized space was 13.13 million square meters, up by 98.5 percent.
The country’s tallest skyscraper was Lotte World Tower (123 floors) in Jamsil, Seoul. The second to eighth tallest towers were high-rise apartment buildings in Busan.
The authorized space for apartments last year jumped by 19.3 percent from the previous year, with an increase of 19.9 percent in the Seoul metropolitan area and 49.7 percent outside of Seoul.
Image Credit: Yonhap / photonews@koreabizwire.com
