[THE INVESTOR] Construction permits for new buildings in South Korea grew from a year earlier in the first half, partly on a rise in permits for new residential and commercial buildings, the government said on Aug. 1.

The number of construction permits issued for new buildings reached 134,348, up 6.4 percent from the same period in 2015, according to the Ministry of Land, Infrastructure and Transport. From six months earlier, however, the figure marks a 3.6 percent drop.

The on-year gain was largely attributed to a surge in permits for residential and commercial buildings that include large apartment complexes but not detached houses.

Permits for new residential buildings climbed 7.7 percent on-year to 64,168 in the first six months of the year. The ministry earlier said the number of permits for all new homes spiked 18.4 percent on-year to over 355,000 in the first half. The number of permits for new commercial buildings gained 6.1 percent on-year to 37,358 over the cited period, it said.

()