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Torrential rainfall events associated with rainstorms and typhoons are the main causes of flood-related economic losses in Gangwon Province, Republic of Korea. The frequency and severity of flood damage have been increasing due to frequent extreme rainfall events as a result of climate change. Rainfall is a major cause of flood damage for the study site, given a strong relationship between the probability of flood damage over the last two decades and the maximum rainfall for 6 and 24 h durations in the 18 administrative districts of Gangwon Province. This study aims to develop flood damage regression models by rainfall identification for use in a simplified and efficient assessment of flood damage risk in ungauged or poorly gauged regions. Optimal simple regression models were selected from four types of non-linear functions with one of five composite predictors averaged for the two rainfall datasets. To identify appropriate predictor rainfall variables indicative of regional landscape features, the relationships between the composite rainfall predictor and landscape characteristics such as district size, topographic features, and urbanization rate were interpreted. The proposed optimal regression models may provide governments and policymakers with an efficient flood damage risk map simply using a regression outcome to design or forecast rainfall data.