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http://dx.doi.org/10.5855/ENERGY.2014.23.4.176

Cost-benefit analysis of project of promoting the economy in Samcheok City  

Jeong, Dong-Won (Department of Business Administration, Baekseok Culture University)
Jin, Se-Jun (Department of Energy Policy, Graduate School of Energy & Environment, Seoul National University of Science & Technology)
Han, Jong-Ho (Department of Economics, Hoseo University)
Publication Information
Journal of Energy Engineering / v.23, no.4, 2014 , pp. 176-182 More about this Journal
Abstract
The project of promoting the economy has attracted attention as on strategy for the economic revitalization of abandoned mine areas which is promoting by local government based on the "Special law on the development of abandoned mine areas". Through the analysis of economic feasibility analysis, the government is trying to determine the presence or absence of budget support to project of promoting the economy of local government. Furthermore, this paper attempts to conduct a cost-benefit analysis, using net present value(NPV), benefit/cost(B/C) ratio, internal rate of return(IRR) techniques for project of promoting the economy of Samcheok City. The project of promoting the economic of Samcheok City is promoting the Yukbaeksan flowers rest park and Glass Art Culture and Tourism theme park. The results indicate that NPV, B/C ratio and IRR of Yukbaeksan flowers rest park are 3,937 million won, 1.06, 6.18% and NPV, B/C ratio and IRR of Glass Art Culture and Tourism theme park are 8,311 million won, 1.34 and 9.47. Accordingly, the projects of promoting the economic of Samcheok City ensure economic feasibility that the three indicators have exceeded 0, 1.0 and 5.5% respectively. Moreover, the analysis results can be used effectively in the decision for the project of promoting ecomony of Samcheok city.
Keywords
Project of promoting the economy; Cost-Benefit Analysis; NPV; B/C ratio; IRR;
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