Tuesday, August 21, 2007

[The Chosun Ilbo, August 20 2007] Experts Predict Weather Services to Grow in Korea

"Weather dictates the U.S. stock market." The saying stems from the fact that U.S. granaries serve as a key food suppliers for the world. When irregular weather patterns drive the price of U.S. crops upward, that takes a toll on the world economy.


According to a study by Professor Gang In-shik of Seoul National University, Korea's weather information service saves businesses up to W3.5 trillion (US$1=W950) annually. Once the service usage reaches the level of advanced nations, the estimated benefit is expected to reach about W6.5 trillion.

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