Journal of the Korean Society of Marine Environment & Safety (해양환경안전학회지)

The Korean Society of Marine Environment and safety (해양환경안전학회)
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A Cost-Benefit Estimate for MARSA

  • Smith, Matthew (Div. of Maritime Transportation Science, Korea Maritime & Ocean University) ;
  • Yun, Jong-Hwui (Dept. of Coast Guard Studies, Korea Maritime & Ocean University)
  • Received : 2014.03.26
  • Accepted : 2014.06.25
  • Published : 2014.06.30
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Abstract

This paper proposes that the Marine Search & Rescue and Salvage Association of Korea (MARSA) can provide KCG a very positive return on investment; that is, MARSA will save lives and property well over the budget needed from KCG to operate MARSA. To perform this Cost-Benefit Analysis, actual performance data and other figures are taken from the USCG Auxiliary, and these figures are used to project expected possible MARSA results. In this paper, MARSA is projected to provide a 1,493 % return on investment.

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References

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