Natural disasters including floods and droughts have sharply increased in the past decade to inflict losses of nearly one-point-seven quadrillion won.

This is according to the UN Food and Agriculture Organization (FAO) which analyzed 140 natural disasters that occurred over ten years since 2003.

The number of disasters that occurred over the decade nearly doubled from that of the 1980s.

Resulting economic losses are estimated at some one-point-five trillion dollars, or over one-point-seven quadrillion won. 

The FAO noted that natural disasters especially inflict huge losses to the agriculture sector and threaten food security of developing nations.