Ocean and Polar Research

Korea Institute of Ocean Science & Technology (한국해양과학기술원)
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The Economic Impacts of CCS Marine Geological Storage Demonstration Project on the National Economy using Input-output Analysis

이산화탄소 해양지중저장사업의 경제적 파급효과 분석

  • Lee, Joo Suk (Division of International Trade and Economics, College of International Studies, Korea Maritime and Ocean University) ;
  • Choi, Eun Chul (Department of Economics, College of Political Science & Economics, Korea University)
  • 이주석 (한국해양대학교 국제대학 국제무역경제학부) ;
  • 최은철 (고려대학교 정경대학 경제학과)
  • Received : 2015.09.01
  • Accepted : 2016.02.23
  • Published : 2016.03.30
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Abstract

In this study, we attempt to examine the economic impacts of the CCS marine geological storage demonstration project in Korea using Input-Output analysis utilizing the inter-industry relation table issued in 2013. In particular, this study defines the $CO_2$ ocean storage industry and then added the inter-industry relation table and treated the $CO_2$ ocean storage industry as exogenous. In addition, this study assumed two scenarios based on the means of $CO_2$ transport, which are pipe and ship. After defining the industry and scenarios, this study investigates the production-inducing effect, value added inducing effect, and employment-inducing effect of the industries associated with the $CO_2$ ocean storage industry based on a demand-driven model. The results pertaining to the scenarios are estimated as follows: total production-inducing effects, value added inducing effects, and employment-inducing effects are calculated as 1.9044 won, 1.2487 won and 16.7224 people/billion won, respectively. In addition, compared to other industries, the indirect economic impacts of the $CO_2$ ocean storage industry are ranked high: the rankings of production-inducing effects, value added inducing effects, and employment-inducing effects are fourth, second, and fifth, respectively.

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