As summer rains loom, South Korea confronts the economic costs of climate change



Analysis As summer rains loom, South Korea confronts the economic costs of climate change Monsoons have wreaked destruction in recent years, underscoring risks to agriculture, industry and more as temps rise John LeeJune 4, 2024 SHARE COPY LINK FACEBOOK X LINKEDIN MASTODON The Han River swells due to heavy rain, July 15, 2023 \| Image: Korea Meteorological Administration South Korea’s summer monsoon season will officially begin in the coming weeks, kicking off a roughly monthlong period of near-daily rainfall when the country most acutely feels the worsening consequences of climate change. Flooding last summer caused dozens of deaths and extensive property and agricultural damages, and the memory of such disasters has authorities bracing for heavy rains in the weeks ahead. But the physical devastation of these seasonal monsoons is merely the tip of the proverbial melting iceberg when it comes to the impacts of climate change on the ROK. Global warming poses sweeping risks to sectors across © Korea Risk Group. All rights reserved. No part of this content may be reproduced, distributed, or used for commercial purposes without prior written permission from Korea Risk Group. LATEST ANALYSIS 01Why South Korea cannot rebalance growth without stronger regional clusters 02Samsung, SK Hynix rejection exposes South Korea’s chip-grid financing problem 03Trump’s Cheongung social media post tests Seoul’s refusal to arm to Ukraine 04Lee Jae Myung risks public trust as South Korea rewires its justice system 05South Korea turns to Central Asia as Iran war tests its energy resilience 06Houthi seizure of Mokha sharpens South Korea’s Hormuz deployment dilemma 07Japan’s stronger yen may cut Korea’s import bill while raising funding costs 08South Korea leans on Europe as Hormuz deployment choices grow narrower

Analysis

As summer rains loom, South Korea confronts the economic costs of climate change

Monsoons have wreaked destruction in recent years, underscoring risks to agriculture, industry and more as temps rise

John LeeJune 4, 2024

As summer rains loom, South Korea confronts the economic costs of climate change

The Han River swells due to heavy rain, July 15, 2023 | Image: Korea Meteorological Administration

South Korea’s summer monsoon season will officially begin in the coming weeks, kicking off a roughly monthlong period of near-daily rainfall when the country most acutely feels the worsening consequences of climate change.

Flooding last summer caused dozens of deaths and extensive property and agricultural damages, and the memory of such disasters has authorities bracing for heavy rains in the weeks ahead.

But the physical devastation of these seasonal monsoons is merely the tip of the proverbial melting iceberg when it comes to the impacts of climate change on the ROK.

Global warming poses sweeping risks to sectors across

LATEST ANALYSIS

01Why South Korea cannot rebalance growth without stronger regional clusters
02Samsung, SK Hynix rejection exposes South Korea’s chip-grid financing problem
03Trump’s Cheongung social media post tests Seoul’s refusal to arm to Ukraine
04Lee Jae Myung risks public trust as South Korea rewires its justice system
05South Korea turns to Central Asia as Iran war tests its energy resilience
06Houthi seizure of Mokha sharpens South Korea’s Hormuz deployment dilemma
07Japan’s stronger yen may cut Korea’s import bill while raising funding costs
08South Korea leans on Europe as Hormuz deployment choices grow narrower

As summer rains loom, South Korea confronts the economic costs of climate change

LATEST ANALYSIS

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John Lee