In 2000, those assets were worth about $2.3 trillion, a report from the National Statistics Office said Wednesday, Yonhap news agency reported.

The sharp increase in value in the past seven years was credited largely to the government setting land prices rising in line with market prices from 2002-05.

Individuals owned 45.4 percent of the total assets, businesses held 35.8 percent and the government the rest, the report said.