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New Tech Enables Grid-based Flood Risk Prediction Without Monitoring Stations

New Tech Enables Grid-based Flood Risk Prediction Without Monitoring Stations

SEOUL, July 28 (Korea Bizwire) — New technology has been developed that enables the prediction of inundation or flood risks on a grid basis without the need to install water level or rainfall monitoring stations. The technology, created by the Korea Institute of Construction Technology, calculates the flooding volume by inputting historical rainfall data from [...]

Used Car Platforms Launch Compensation Programs to Address Flood-damaged Car Concerns

Used Car Platforms Launch Compensation Programs to Address Flood-damaged Car Concerns

SEOUL, July 13 (Korea Bizwire) — In response to growing consumer concerns about the possible sale of flood-damaged secondhand cars during this summer’s rainy season, South Korea’s used car platforms have launched compensation programs to alleviate consumer anxiety. K Car announced on Wednesday that it will launch of a compensation program designed to address consumer [...]

Gov’t to Minimize Flood Damages Using Digital Twin Technology

Gov’t to Minimize Flood Damages Using Digital Twin Technology

SEOUL, Oct. 11 (Korea Bizwire) – The government plans to minimize damage from heavy rains using digital twin technology that enables researchers to analyze and forecast expected weather conditions through a simulation of a virtual world. The Ministry of Land, Infrastructure and Transport said Monday it will provide the Ministry of Environment with 3D spatial [...]

Verisk’s AIR Worldwide Estimates Insured Losses for July Floods in Germany Could Approach EUR 5 Billion

Verisk’s AIR Worldwide Estimates Insured Losses for July Floods in Germany Could Approach EUR 5 Billion

BOSTON, July 28 (Korea Bizwire) — Extreme event modeling firm AIR Worldwide estimates insured losses in Germany from July flooding could approach EUR 5 billion. AIR Worldwide is a Verisk (Nasdaq:VRSK) business. Low pressure system “Bernd” parked itself over central Europe and brought about significant flooding from July 13 to 18. Germany’s Rhineland-Palatinate and North [...]

Gov’t Strengthens Anti-flood Design Standards for Dams, Rivers Due to Climate Change

Gov’t Strengthens Anti-flood Design Standards for Dams, Rivers Due to Climate Change

SEOUL, Dec. 2 (Korea Bizwire) — The government on Wednesday announced a set of countermeasures to deal with flooding and other natural disasters anticipated due to global climate change, vowing to drastically strengthen anti-flood design standards for dams and rivers. Under the new measures, local dams and rivers will be designed to withstand the heaviest [...]

N. Korea Diverts Int’l Aid for Flood Recovery to Construction Projects: Report

N. Korea Diverts Int’l Aid for Flood Recovery to Construction Projects: Report

SEOUL, Feb. 14 (Korea Bizwire) – North Korea has misappropriated part of an international relief package to help it deal with the devastation caused by deadly flooding last year for its major infrastructure projects, a U.S. broadcast said Tuesday. A source in the northern Ryanggang Province told Radio Free Asia (RFA) that materials and funds [...]

Latin American Floods Trigger Cooking Oil Crisis in Korea

Latin American Floods Trigger Cooking Oil Crisis in Korea

SEOUL, Jan. 4 (Korea Bizwire) – Last year’s floods affecting key soybean producers in Latin America, including those in Argentina, led to a drop in the soybean harvest, which is now crippling the supply of business-to-business cooking oil in Korea – further pressuring food businesses that are already suffering from soaring egg prices from the [...]