Climate Change Poses Significant Economic Threat to South Korea, Potentially Halving GDP by 2100
Climate change is projected to have a severe economic impact on South Korea, with some analyses suggesting its GDP could be reduced by up to 53% by 2100 under a scenario of unmitigated climate disasters. This stark warning comes from global economic research and analysis by the Bank of Korea, which previously estimated a 21% GDP decline by 2100 if climate change is left unaddressed. The country's industrial structure, heavily reliant on manufacturing exports and fossil fuel energy, makes it particularly vulnerable to the economic consequences of delayed carbon neutrality. The shift towards a decarbonized economy, driven by global supply chain pressures like RE100 (100% renewable energy use) and carbon border adjustment mechanisms (CBAM), means that companies failing to transition will face market obsolescence. Beyond national economic figures, climate change is also reshaping real estate markets and urban planning, leading to 'climate gentrification' where property values in flood-safe, elevated areas incr...
