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http://dx.doi.org/10.7846/JKOSMEE.2014.17.4.274

Economic Feasibility Analysis of Marine Debris Pollution Abatement Technology Program  

Kwon, Young-Ju (Graduate School of Energy and Environment, Seoul National University of Science & Technology)
Park, Se-Hun (Ocean Policy Institute, Korea Institute of Ocean Science & Technology)
Yoo, Seung-Hoon (Graduate School of Energy and Environment, Seoul National University of Science & Technology)
Publication Information
Journal of the Korean Society for Marine Environment & Energy / v.17, no.4, 2014 , pp. 274-282 More about this Journal
Abstract
The Korean government is considering the implementation of the marine debris pollution abatement technology program (MDPATP) to mitigate the negative impacts of marine debris and systematically manage marine debris through scientific researches such as monitoring and environmental impact assessment of marine debris. In this regard, this study attempts to analyze the economic feasibility of the MDPATP in order to provide policy-maker with useful information. To this end, the indices for economic feasibility such as net present value (NPV), benefit/cost (B/C) ratio, and internal rate of return (IRR) are presented. The results show that NPV, B/C ratio, and IRR are computed to be 45.7 billion won, 2.72, and 17.12%, respectively, which are bigger than 0, 1.0, and 5.5%, and that the MDPATP passes the cost-benefit analysis. Thus, it is concluded that it is socially profitable to conduct the MDPATP.
Keywords
Marine debris; Economic feasibility; Net present value; Benefit/cost ratio; Internal rate of return;
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Times Cited By KSCI : 8  (Citation Analysis)
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