Assessment of Flood Damage Costs for Different Storm Surge, Climate Change, and Drainage Scenarios in Busan, South Korea

ABSTRACT Sea level rise and storm surges resulting from climate change are expected to increase the frequency and intensity of floods. Aging and/or inefficient drainage systems can significantly exacerbate flood damage. Effective flood defense policies must categorize flood damage and provide a detailed assessment of each contributing factor. In this study, we evaluated the cost of flood damage in Busan—the second most populous city on the coast of South Korea. Flood damage costs were analyzed based on an object‐based approach across 10 scenarios, which accounted for variations in storm surge frequency, climate change impacts, and drainage efficiency. Flood damage costs for four categories, namely buildings, agriculture, human casualties, and vehicles, were examined across different administrative regions. Results reveal that flood damage costs increase with higher storm surge frequencies and climate change effects, while reduced drainage efficiency further amplifies these costs. Given that damage costs are predominantly concentrated in coastal areas, future data‐based flood defense policies should be developed to reflect the specific vulnerabilities and damage patterns of each administrative region.