[THE INVESTOR] Land prices in Korea continued to grow in the first half of the year, government data showed on July 27.

In the six months ended June 30, land prices gained 1.25 percent from six months earlier, accelerating from a 1.07 percent increase over the same period last year, according to the Ministry of Land, Infrastructure and Transport.

The tally marks the steepest rise in eight years after a 2.72 percent spike posted in the first half of 2008. The ministry said June also marked the 68th consecutive month of increase since November 2010.

Average land prices rose in all 17 major cities and provinces throughout the country, but price increases in rural areas led the overall rise.

Land prices in rural areas rose by an average 1.48 percent in the first half, while those in Seoul and its surrounding area gained 1.12 percent.

The southern resort island of Jejudo showed the sharpest increase in land prices, posting an average 5.71 percent rise in the first half. The new administrative town of Sejong, built some four years ago, saw its land prices grow 2.10 percent.

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