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Open AccessArticle

A Flood Risk Assessment Model for Companies and Criteria for Governmental Decision-Making to Minimize Hazards

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Ojeong Eco-Resilience Institute Environmental GIS/RS Center, Korea University, Seoul 02841, Korea
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Interdisciplinary Program in Landscape Architecture, Seoul National University, Seoul 08826, Korea
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Department of Landscape Architecture, University of Seoul, Seoul 02504, Korea
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Department of Landscape Architecture and Rural System Engineering, Seoul National University, Seoul 08826, Korea
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Department of Environmental Science and Ecological Engineering, Korea University, Seoul 02841, Korea
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Authors to whom correspondence should be addressed.
Sustainability 2017, 9(11), 2005; https://doi.org/10.3390/su9112005
Received: 16 August 2017 / Revised: 20 October 2017 / Accepted: 30 October 2017 / Published: 1 November 2017
(This article belongs to the Section Sustainable Use of the Environment and Resources)
Flood risks in the industrial sector and economic damages are increasing because of climate change. In addition to changes in precipitation patterns due to climate change; factors that increase flood damage include infrastructure deterioration and lack of storage facilities. Therefore; it is necessary for companies and the government to actively establish flood management policies. However; no evaluation method is currently available to determine which items should be invested in first by small and medium-sized enterprises that have limited finances. Because the government should make comprehensive and fair decisions; the purpose of this study is to propose priority investment risk items and an assessment method to decide which companies should be invested in first in flood risk management due to climate change. The multispatial scale of the method takes both the location and characteristics of the company into account. Future climate change scenarios were used to evaluate the changing patterns of flood risks. We developed the relative Flood Risk Assessment for Company (FRAC model) methodology to support the government’s policymaking. This method was applied to four companies belonging to four different industries and three risk items were derived that are likely to harm the company owing to flooding. View Full-Text
Keywords: risk; risk assessment; floods; industrial parks; climate change; SMEs (small and medium-sized enterprises) risk; risk assessment; floods; industrial parks; climate change; SMEs (small and medium-sized enterprises)
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Ryu, J.; Yoon, E.J.; Park, C.; Lee, D.K.; Jeon, S.W. A Flood Risk Assessment Model for Companies and Criteria for Governmental Decision-Making to Minimize Hazards. Sustainability 2017, 9, 2005.

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