• Journal of the Korean Data and Information Science Society
• /
• v.23 no.5
• /
• pp.913-925
• /
• 2012

This study evaluates the economic benefit of the project constructing the international riding arena having been built at Sangju in Gyeongsangbuk-Do by the willingness to pay (WTP) of residents in the province. As the evaluation method, the dichotomous choice contingent valuation method (CVM) is adopted with the additional questions of whether his/her WTP is zero, to improve the statistical accuracy of evaluation results. Considering the arena's administrative location, the population of the surveys for analysis is confined to residents of Daegu and Gyeongsangbuk-do. The survey is conducted through personal interviews. It turns out that the WTP per household per year is evaluated as 1,847 won and the total yearly benefit of the Sangju international horse riding arena is estimated as 3.56 billion won.

• Journal of the Korean Society for Library and Information Science
• /
• v.53 no.2
• /
• pp.201-221
• /
• 2019

The Korea Institute of Civil Engineering and Building Technology provides the documents and information on the construction technology through the Construction Technology Digital Library System to enhance the technological competitiveness of the construction engineers. The purpose of this study is to measure the monetary value of information service quality in order to improve the documents and information service quality provided by this system. For this purpose, a questionnaire model was designed to apply the DBDC- CVM. We surveyed the members of 300 this systems for the amount of information that they are willing to pay to maximize the quality of information service. The correlation between the dependent variable and the explanatory variables was analyzed with the basic statistics of the survey results. The independent variables affecting the dependent variable are statistically significant. The logit model is used to estimate the monetary value of individual respondents who are willing to pay for information service quality. In previous research, we measured the use value of information service. On the other hand, this study shows that the measurement of value based on information service quality is different from previous research.

• Journal of the Korean Institute of Landscape Architecture
• /
• v.50 no.4
• /
• pp.53-62
• /
• 2022

Animal companionship is gaining popularity in Korea, and interest in dog walking is also increasing as a strategy to maintain the physical and mental health of dogs and dog owners. The purpose of this study was to investigate the perception and satisfaction of dog owners with the neighborhood environments for dog walking and to examine the willingness to pay (WTP) for an off-leash dog park. Of a total of 249 online survey respondents, 47.8% said they take a walk at least once a day and mainly walk around nearby neighborhoods or parks. Respondents showed a high attachment to their dogs and recognized that dog walks help increase physical activity and maintain the health of owners and their dogs. The satisfaction with neighborhood environments, such as attractive views and the connection of walking trails, was low, and there was a high demand for off-leash dog parks. The truncated mean WTP was estimated to be 85,618 Korean Won, and the result of regression analysis and t-test revealed that walking frequency and the satisfaction with dog walking facilities were statistically significant in the WTP. In order to encourage dog walking to promote physical activity and health, more attention needs to be devoted to improving neighborhood environments for dog walking.

• Journal of Korean Society of Forest Science
• /
• v.104 no.1
• /
• pp.162-168
• /
• 2015

The purposes of this study are estimating willingness to pay (WTP) of forest owners for the disaster insurance premium for forest products in Korea and investigating factors affecting their WTP. The result with contingent valuation method shows that forest owners' median WTP is $9,440\;KRW/ha{\cdot}yr$. Advanced forest managers including devoted forest managers and forestry successors are willing to pay more for insurance premium compared to non-advanced ones, and those who have experienced disaster in their own forest land have higher WTP than others. WTP of advanced forest managers appears to be 50% higher than that of non-advanced. These results imply that policy makers should consider advanced forest managers as a priority to introduce the insurance system.

• Journal of Intelligence and Information Systems
• /
• v.23 no.1
• /
• pp.23-46
• /
• 2017

Although there have been cases of evaluating the value of specific companies or projects which have centralized on developed countries in North America and Europe from the early 2000s, the system and methodology for estimating the economic value of individual technologies or patents has been activated on and on. Of course, there exist several online systems that qualitatively evaluate the technology's grade or the patent rating of the technology to be evaluated, as in 'KTRS' of the KIBO and 'SMART 3.1' of the Korea Invention Promotion Association. However, a web-based technology valuation system, referred to as 'STAR-Value system' that calculates the quantitative values of the subject technology for various purposes such as business feasibility analysis, investment attraction, tax/litigation, etc., has been officially opened and recently spreading. In this study, we introduce the type of methodology and evaluation model, reference information supporting these theories, and how database associated are utilized, focusing various modules and frameworks embedded in STAR-Value system. In particular, there are six valuation methods, including the discounted cash flow method (DCF), which is a representative one based on the income approach that anticipates future economic income to be valued at present, and the relief-from-royalty method, which calculates the present value of royalties' where we consider the contribution of the subject technology towards the business value created as the royalty rate. We look at how models and related support information (technology life, corporate (business) financial information, discount rate, industrial technology factors, etc.) can be used and linked in a intelligent manner. Based on the classification of information such as International Patent Classification (IPC) or Korea Standard Industry Classification (KSIC) for technology to be evaluated, the STAR-Value system automatically returns meta data such as technology cycle time (TCT), sales growth rate and profitability data of similar company or industry sector, weighted average cost of capital (WACC), indices of industrial technology factors, etc., and apply adjustment factors to them, so that the result of technology value calculation has high reliability and objectivity. Furthermore, if the information on the potential market size of the target technology and the market share of the commercialization subject refers to data-driven information, or if the estimated value range of similar technologies by industry sector is provided from the evaluation cases which are already completed and accumulated in database, the STAR-Value is anticipated that it will enable to present highly accurate value range in real time by intelligently linking various support modules. Including the explanation of the various valuation models and relevant primary variables as presented in this paper, the STAR-Value system intends to utilize more systematically and in a data-driven way by supporting the optimal model selection guideline module, intelligent technology value range reasoning module, and similar company selection based market share prediction module, etc. In addition, the research on the development and intelligence of the web-based STAR-Value system is significant in that it widely spread the web-based system that can be used in the validation and application to practices of the theoretical feasibility of the technology valuation field, and it is expected that it could be utilized in various fields of technology commercialization.

• Environmental and Resource Economics Review
• /
• v.14 no.3
• /
• pp.673-697
• /
• 2005

The purpose of this paper is to estimate the total damage cost (i.e., individual welfare loss) due to dust-sand storm (DSS) in Korea, using contingent valuation method. CV market scenario is designed to elicit individual WTP for reducing the currently 14 days of average DSS per year by 50 percent. Question about the shares of various types of damage costs are directly asked after the respondent answered about his or her WTP in CV questionnaire. The yearly damage cost due to DSS is 29,510 won(95% C.I. 24,565~35,452won) in the case of an individual, therefore amounts to 444.1 billion won(95% C.I. 407.3~481.0 billion won) for the whole nation. The cost of amenity reduction counted as 33.8% is 150.1 billion won(95% C.I. 137.7~162.6 billion won); the cost of increase in morbidity counted as 36.6% amounts to 162.5 billion won(95% C.I. 149.1~176.0 billion won); the cost of averting behaviors counted as 14.5% is 64.4 billion won(95% C.I. 59.1~69.7 billion won); and the cost of car wash, activity restriction and so on, which was counted as 15.1%, amounts to 67.1 billion won(95% C.I. 61.5~72.6 billion won).

• Journal of the Korea Institute of Information Security & Cryptology
• /
• v.28 no.1
• /
• pp.215-227
• /
• 2018

As Korea is rapidly becoming an IT powerhouse in the short term, various side effects such as cyber violence, personal information leakage and cyber terrorism are emerging as new social problems. Especially, the seriousness of leakage of personal information, which is the basis of safe cyber life, has been highlighted all over the world. In this regard, it is necessary to estimate the amount of the damage cost due to the leakage of personal information. In this study, we propose four evaluation methods to calculate the cost of damages due to personal information leakage according to average real transactions value, personally recognized value, compensation amount basis, and comparison to similar countries. We analyzed data from 2007 to 2016 to collect personal information leakage cases for 10 years and estimated the cost of damages. The number of cases used in the estimation is 65, and the total number of personal information leakage is about 430 million. The estimated cost of personal information leakage in 2016 was estimated to be at least KRW 7.4 billion, up to KRW 220 billion, and the 10 year average was estimated at from KRW 10.7 billion to KRW 307 billion per year. Also, we could find out the singularity that the estimated damage due to personal information leakage increases every three years. In the future, this study will be able to provide an index that can measure the damage cost caused by the leakage of personal information more accurately, and it can be used as an index of measures to reduce the damage cost due to personal information leakage.

• Korean Journal of Soil Science and Fertilizer
• /
• v.41 no.2
• /
• pp.143-152
• /
• 2008

In order to share the understanding agricultural multifunctionality with people, we carried out quantification and monetary evaluation for controlling flood and fostering water resources function in paddy and upland farming in Korea. The amount of water controlling flood and fostering water resources function in paddy farming was much greater than that in upland. The quantification of flood control function could be estimated by sum of the height of dike and water infiltrated during the flooding periods in paddy farming, and water excepting runoff water from precipitation at flooding time in upland farming. As results of estimation of flood control function, the amounts of water controlling flood have been evaluated as $294mm\;year^{-1}$ in paddy farming and $72.6mm\;year^{-1}$ upland farming, and was calculated 3.71 billion MT on a nation basis in 2006. When it was carried out monetary estimation as the cost of dam construction and the depreciation expense by using replacement cost method, flood control functions in paddy and upland were evaluated as 44,338.9 and 7,221.5 billion won, respectively. Comparing with previous reports, monetary value was analyzed much to increase because of rising price cost recently. Fostering water resource functions were also quantified in paddy and upland farming as the amount of water keeping and infiltrating water during the cultivation. In the basis of estimation model, it was showed that paddy and upland farming had been estimated to have $414.28mm\;year^{-1}$, $18.7mm\;year^{-1}$, respectively. They were also calculated to 4.49 and 0.137 billion MT on a nation basis in 2006, respectively. The economic values of fostering water resources function in paddy and upland farming were also estimated to 1,769.4 and 52.8 billion won, respectively, as replacing the amount of water to the cost of drinking water in 2006. There were differences by much to the amounts of controlling flood function and fostering water resource between paddy and upland farming. It means that paddy farming more play an important role in environment than upland farming in Korea.

• Journal of Environmental Impact Assessment
• /
• v.27 no.3
• /
• pp.322-333
• /
• 2018

This study was carried out to measure atmospheric environmental improvement effect and estimate its social benefit of thermal power plants through Environmental Impact Assessment (EIA) for quantitative analysis about operational performances of EIA. In this study, 'EIA outcome' is defined as whether or not the system is implemented, therefore, environmental standard to be followed by each project and consultation contents were compared. In total 60 cases of thermal power plant construction projects that have been consulted over the past 10 years since 2010, major air pollutants have been significantly reduced after the implementation of EIA. The $PM_{10}$ reduced annual 3,745 tons, $NO_2$ by 74,569 tons, and $SO_2$ by 37,647 tons, which were estimated at approximately 240 billion won~5 trillion 967 billion won per year for social benefit. This means the total cost of power plant operations will be cut to 7 trillion 192 billion won~178 trillion 994 billion won over a 30-year period. The reduced amount of air pollutants emitted by energy generation facilities across the country is worth 50%, and its economic value is larger than the annual Current Health Expenditure in Korea. This is meant by the fact that all projects are subject to uniform criteria under the existing relevant regulation, but that each project plans are optimized according to the characteristics of target areas and projects through the process of EIA.

• Journal of the Korean Institute of Landscape Architecture
• /
• v.46 no.3
• /
• pp.70-78
• /
• 2018

Recently, the conservation of mountainous landscape and compensation for diverse demands for mountain areas such as leisure, recreation and welfare are under discussion. The purpose of this study is to investigation the perception of mountainous landscapes by those who view and recognize the landscapes and to estimate economic value by estimating the willingness to pay for the management of mountainous landscapes. This study will provide data for the management of mountainous landscapes. As a result of comparing the perception between the territorial landscape and the mountain landscape, the mountain scenery was 3.96, the management level satisfaction was 3.28, and the management necessity was 4.38, which was higher than the national landscape, while the national landscape was satisfactory but the management level was insufficient. Jeju Island (39.0%) and Gangwon (38.6%) were chosen as the most scenic areas with beautiful forest and mountainous landscape resources. The aesthetic characteristics of the vast skyline of mountain scenery, the background of the area, and the mountainous landscape that forms the landmark were evaluated highly. And, it is considered that consciousness of mountainous landscape management is heightened by 86.8% of respondents, who positively answered the Mountainous Landscape Visual Impact Assessment before the development project. The per capita payment amount for mountainous landscape management was calculated to be 3,742 won and, based on the number of visitors to the mountain National Parks in 2016, it is estimated to have an economic value of about 169.5 billion won. Policymakers have limitations in the mountainous landscape management policies of the administrative subject. Establishing a consensus on the importance and necessity of landscape management by diagnosing the status of public perception is expected to help create more effective policy direction and implement strategies for the management of these areas.