In 2021, the restoration costs for the damage caused by natural disasters in South Korea amounted to around 297.3 billion South Korean won. This represents a significant decrease from the previous year, which saw a record 4.2 trillion won spent, the majority of which was spent due to heavy rains.
Restoration costs for natural disasters in South Korea from 2011 to 2021
(in billion South Korean won)
According to article 3 of the South Korean Framework Act on the Management of Disasters and Safety, natural disasters refer to
"disasters caused by a typhoon, flood, downpour, strong wind, wind and waves, tidal wave, heavy snowfall, lightning, drought, earthquake, sandy dust, hypertrephied of algae, ebb and flow, volcanic activity, crash or collision of a natural space object, such as an asteroid and meteoroid, and other natural phenomena equivalent thereto."
1,000 South Korean won equals 0.77 U.S. dollars or 0.70 euro as of December 2023.
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Ministry of the Interior and Safety (South Korea). (August 22, 2023). Restoration costs for natural disasters in South Korea from 2011 to 2021 (in billion South Korean won) [Graph]. In Statista. Retrieved November 23, 2024, from https://www.statista.com/statistics/1230131/south-korea-restoration-costs-for-natural-disasters/
Ministry of the Interior and Safety (South Korea). "Restoration costs for natural disasters in South Korea from 2011 to 2021 (in billion South Korean won)." Chart. August 22, 2023. Statista. Accessed November 23, 2024. https://www.statista.com/statistics/1230131/south-korea-restoration-costs-for-natural-disasters/
Ministry of the Interior and Safety (South Korea). (2023). Restoration costs for natural disasters in South Korea from 2011 to 2021 (in billion South Korean won). Statista. Statista Inc.. Accessed: November 23, 2024. https://www.statista.com/statistics/1230131/south-korea-restoration-costs-for-natural-disasters/
Ministry of the Interior and Safety (South Korea). "Restoration Costs for Natural Disasters in South Korea from 2011 to 2021 (in Billion South Korean Won)." Statista, Statista Inc., 22 Aug 2023, https://www.statista.com/statistics/1230131/south-korea-restoration-costs-for-natural-disasters/
Ministry of the Interior and Safety (South Korea), Restoration costs for natural disasters in South Korea from 2011 to 2021 (in billion South Korean won) Statista, https://www.statista.com/statistics/1230131/south-korea-restoration-costs-for-natural-disasters/ (last visited November 23, 2024)
Restoration costs for natural disasters in South Korea from 2011 to 2021 (in billion South Korean won) [Graph], Ministry of the Interior and Safety (South Korea), August 22, 2023. [Online]. Available: https://www.statista.com/statistics/1230131/south-korea-restoration-costs-for-natural-disasters/
