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http://dx.doi.org/10.38121/kpea.2022.3.38.3.53

Analysis of Economic Value and Regional Economic Impact of Jeju Port Redevelopment Project  

Sim, Ki-Sup (한국해양수산개발원 항만연구본부)
Publication Information
Journal of Korea Port Economic Association / v.38, no.3, 2022 , pp. 53-68 More about this Journal
Abstract
In this study, the economic value and economic ripple effect of the Jeju Inland Port redevelopment project were estimated. The economic value was estimated from the viewpoint of amenity, the value of non-market goods such as landscape improvement, environmental improvement, and recreation effects. As a result of the estimation, the population was divided into Jeju Island and other regions and the individual's willingness to pay was estimated to be 2,952.9 won in Jeju Island and 4,722.8 won in other regions. On the other hand, the economic ripple effect of the Jeju Inland Port redevelopment project was estimated during the project period and after the completion of the economic ripple effect was estimated. As a result of the estimation, the production inducement value was KRW 84,387 million, the value-added inducement effect was KRW 37,292 million, and the employment inducement value was 5,846 employment when the (direct employment + indirect employment) effect was combined. After the end of the project period, as of 2022, there were 518,000 foreign tourists, and the value-added inducing effect was estimated to be about 149,885 million won.
Keywords
Jeju Port; Port Redevelopment Project; Contingent Valuation Method; Industry Association Analysis; Value-added inducement effect;
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