Urban forests worth W1.33tr in heat-island relief, study finds

As South Korea swelters through relentless heat waves, how much are urban forests actually worth? The National Institute of Forest Science, an arm of the Korea Forest Service, released its assessment of the public benefits urban forests provide in mitigating the heat-island effect on Wednesday.

According to the findings, the economic value of electricity savings generated by forests reducing urban heat islands was estimated at 1.33 trillion won ($942 million) — roughly double the figure recorded in 2020.

The heat-island mitigation function is one of 12 public forest benefits that the National Institute of Forest Science evaluates and publishes. The figure is calculated by factoring in the per-capita area of urban forests accessible to residents, the amount of electricity consumption reduced per unit of urban forest area, and electricity market prices.

The sharp rise in the value of heat-island mitigation was attributed mainly to the expansion of accessible urban forest areas and higher electricity market prices.

The per-capita area of accessible urban forest grew 22.6 percent, from 11.48 square meters in 2021 to 14.07 square meters in 2023, while electricity market prices rose 63.9 percent compared with the previous survey.

The results underscore the growing social and economic importance of urban forests in providing heat-island relief as prolonged heat waves become more common.

"In an era when extreme heat is becoming the norm, urban forests are a vital asset that lowers temperatures in city centers and delivers real benefits to people's daily lives," said Kim Ki-dong, a researcher at the institute's Wood Industries Research Division. "We will continue conducting scientific research to assess the public value that forests and timber provide."