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http://dx.doi.org/10.7837/kosomes.2013.19.5.417

Assessment of the Environmental Value of the Geum-river Estuary  

Kwon, Young-Ju (Graduate School of Energy & Environment, Seoul National University of Science & Technology)
Yoo, Seung-Hoon (Graduate School of Energy & Environment, Seoul National University of Science & Technology)
Park, Se-Hun (Environment and Economics Assessment Section, Korea Institute of Ocean Science & Technology)
Publication Information
Journal of the Korean Society of Marine Environment & Safety / v.19, no.5, 2013 , pp. 417-429 More about this Journal
Abstract
The current study attempted to assess the environmental value of Geum-river estuary for rational management decision-making. To investigate the comprehensive properties of the Geum-river estuary, we applied the contingent valuation method based on multi-attribute utility theory. We surveyed a randomly selected sample of 400 and 600 households of the Geum-river estuary-neighboring area (Jeollabuk-do, Chungcheongnam-do), and other nation-wide large districts (except Jeollabuk-do, Chungcheongnam-do, and Jeju-do), respectively, and carried out person-to-person interviews with subjects on their willingness-to-pay for the estuary conservation and management program. Respondents, overall, accepted the contingent market system and were willing to contribute a significant amount, that is 1,497 won for the residents from the Geum-river estuary-neighboring area and 4,343 won for the residents from other nation-wide large districts on average, per household per year. These results implied that there were large difference between the two groups. The aggregate values of the Geum-river estuary for the estuary-neighboring area and other nation-wide large districts amount to 2.13 and 70.15 billion won, respectively, per year. This quantitative value deduced from the current study, could be a useful baseline fact for any decision-making process particularly in the establishment of management policies for the Geum-river estuary.
Keywords
Geum-river estuary; Environmental value; Willingness to pay; Multi-attribute utility theory; Contingent valuation method;
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Times Cited By KSCI : 2  (Citation Analysis)
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