"L.A. Wildfire Loss in U.S. Insurance Industry for a Week of KRW 44 Trillion"

It is estimated that the insurance industry will lose 30 billion dollars and our money will exceed 43.9 trillion won due to the large forest fire in Los Angeles in the western United States.

It's up significantly from last week's maximum estimate of $20 billion.

In addition, the industry predicts that 15,000 to 25,000 people will be unemployed due to forest fires.

According to Bloomberg News, U.S. financial giant Wells Fargo expects the insurance industry's estimated damage to reach $30 billion a week after the wildfire.

Large investment bank Goldman Sachs also estimated that the insurance industry's losses are expected to be $10 billion to $30 billion and will be $40 billion considering uninsured home losses.

Currently, the "Palisades Wildfire" in Pacific Palisades on the west coast of L.A. County is 14% and the "Eton Wildfire" in the east interior is 33% contained.

More than 92,000 people still left their homes under evacuation orders, and strong wind warnings have been issued again, making it difficult to extinguish them.

The wildfire killed at least 24 people and burned more than 12,000 homes and buildings in an area 34 times larger than Yeouido.

Estimates of total damage and economic losses, taking into account uninsured damage and indirect economic effects such as wage losses and supply chain disruptions, have also increased significantly over the weekend, with estimates ranging from $250 billion to $275 billion and 366 trillion to 402 trillion won in Korean money, according to weather information firm AccuWeather.