Economics of Weather, Korea's Meteorological Industry
- 9 years ago
Economics of Weather, Korea's Meteorological Industry
Forecasting the weather has become increasingly difficult since Korea's climate became warmer. The number of natural disasters resulting from climate changes is increasing, and accordingly, weather forecasts are becoming more important. Korea's meterological technologies ranks 7th in the world. It's an achievement Korea reaped within just 20~30 years, and Korea's meterological industries are steadily advancing.
The World Meteorological Organization estimates weather forecasts' practical values to be worth anywhere between $3.1 and $5.8 billion dollars a year. Weather influences both individuals and industries' decision making processes, and incorporating weather analysis into marketing strategies can increase sales. Thus, Korean government and related industries are putting efforts into expanding Korea's meterological market. Many businesses began applying weather analysis to their products and services, and the government established a certification system to recognize businesses that effectively use weather information to create positive outcomes. Over 100 companies have received the weather management certification and used it to increase sales and reduce operation costs.
Weather is money. 4Angles report Korea's strategies to advance its meterological industries.
Forecasting the weather has become increasingly difficult since Korea's climate became warmer. The number of natural disasters resulting from climate changes is increasing, and accordingly, weather forecasts are becoming more important. Korea's meterological technologies ranks 7th in the world. It's an achievement Korea reaped within just 20~30 years, and Korea's meterological industries are steadily advancing.
The World Meteorological Organization estimates weather forecasts' practical values to be worth anywhere between $3.1 and $5.8 billion dollars a year. Weather influences both individuals and industries' decision making processes, and incorporating weather analysis into marketing strategies can increase sales. Thus, Korean government and related industries are putting efforts into expanding Korea's meterological market. Many businesses began applying weather analysis to their products and services, and the government established a certification system to recognize businesses that effectively use weather information to create positive outcomes. Over 100 companies have received the weather management certification and used it to increase sales and reduce operation costs.
Weather is money. 4Angles report Korea's strategies to advance its meterological industries.