Abstract
In this paper, for constructing the Korean Hazard Information System (KHIS), we conceptually design a hazard evaluation process. We first deal with a hazard evaluation process focused on flood hazard to give the most immense damage and loss. The hazard evaluation process is consist of a damage evaluation process and a loss evaluation process, and is used for transforming hazards from natural disasters into economic measures. The proposed process is developed based on the famous FEMA (Federal Emergency Management Agency)'s $HAZAS^{@MH}$methodology. We modify the FEMA's process to be mutually exclusive and collectively exhaustive, that is all losses from the hazards are included into the estimation process but the losses are not duplicated in the process. In addition to this, we define the loss process specifically by considering the characteristics from the hazard environments of Korea. We can expect that KHIS for evaluating economic losses from natural hazards can be developed based on the conceptual design for the economic loss evaluation process, and KHIS can be used as a useful tool for analyzing the feasibilities of mitigation plans in central/local governments.