• Journal of the Korean Society for Marine Environment & Energy
• /
• v.16 no.3
• /
• pp.217-225
• /
• 2013

It is time to develop new renewable energy that could fundamentally replace fossil fuel, which has been increasingly needed due to environmental pollution and energy security. Korean marine bio-energy development project is planned to produce 50% of total bioenergy. This study attempts to measure the greenhouse gas emission reduction benefits of marine bio-energy development project through contingent valuation method. Single bounded dichotomous choice (SBDC) is applied with spike model. The results show that the average willingness to pay are estimated to be KRW 4,190 at SBDC, per household per year. If the result has been expanded to the region which is survey conducted, KRW 50.1 billion annually. These quantitative information can be usefully utilized in the cost benefit analysis to implement project and policy-making for the industrialization of marine bio-energy development project.

• Journal of the Korean Society of Marine Environment & Safety
• /
• v.24 no.1
• /
• pp.101-111
• /
• 2018

The Korean government has been trying to conserve a marine ecosystem that has been shifting due to climate change. As part of this effort, the government designated seventy-seven marine species that have been disappearing and deserve to be protected as endangered managing them specially. To generate basic data to guide policy for these endangered species, their value must be measured. OOf the species declared endangered, coral is particularly threatened by climate change, and its management is important. Accordingly, understanding the potential value of reefs, can be an effective way of proving the benefits of continuous management to decision makers and the general public alike. To this end, we have applied the contingent valuation method (CVM), an economic technique of for valuing a environmental and non-market goods such as a coral reef. A national face-to-face survey of 1,000 randomly selected households was conducted in order to determine the public's willingness to pay (WTP) for conserving coral reefs. A one-and-one-half-bound (OOHB) model was adopted to interpret WTP responses, and a spike model was employed to deal with zero WTP responses. The results show that the conservation value of a coral reef can be estimated at 3,016 won per household per year, statistically significant at the 1 % level. Expanding values to the national population gives an annual value of 58.9 billion won. We can conclude that the public is willing to pay a significant amount to conserve coral reefs.

• Journal of the Korean Society of Marine Environment & Safety
• /
• v.28 no.5
• /
• pp.681-691
• /
• 2022

Zostera marina (ZM), a type of seagrass registered as a marine protected species in South Korea, provides valuable ecosystem services to humans, such as improving marine water quality, providing food, spawning grounds and habitats for marine life, and absorbing carbon dioxide. Therefore, the government is seeking to preserve ZM by designating ZM-protected areas. This study examined the public willingness to pay (WTP) for the preservation of ZM using contingent valuation. The one-and-one-half-bounded model was adopted for WTP elicitation, and the single-bounded model was also applied for comparison. The spike model was employed to deal with many zero WTP responses. The household average WTP was estimated as KRW 4,087 per year, securing statistical significance. The national value was KRW 84.1 billion per year. The preservation value of ZM estimated in this study can be used as important data for economic analysis of various projects or policy implementation for its preservation.

• Journal of the Korean Society of Marine Environment & Safety
• /
• v.23 no.2
• /
• pp.177-186
• /
• 2017

This paper attempts to quantitatively assess the public value that has been assigned to this government plan by employing a contingent valuation technique. Data gathering performed that professional research firm administrated a face-to-face national survey of 1,000 randomly-selected households. A one-and-one-half-bound model was adopted to elicit willingness to pay (WTP) responses, and the payment vehicle used was income tax. The WTP model used in this study is based on a utility difference approach and the spike model. The results showed that the public value of conserving green turtles was estimated to be 2,570 Korean Won per household over the next 10 years as of 2016, statistically significant at the 1% level. Expanding the values considered to include the national population gives a public value of 48.7 billion Korean Won. Thus, the public value of rescuing, rehabilitating, and releasing green turtles that have been caught by fishermen, collided with fishing boats, and died in nets through the government program is not small.

• Journal of Energy Engineering
• /
• v.24 no.3
• /
• pp.40-47
• /
• 2015

Integrated gasification combined cycle (IGCC) power plants not only emit less greenhouse gases and air pollutants than conventional coal-fired power plants, but also use low-price, low-quality, and internationally easily procurable coal. Thus we can benefit from safeguarding energy security through building the IGCC power plant. This paper attempts to value the benefits of energy security enhanced by IGCC power plant. To this end, we report here the results from a contingent valuation survey of randomly selected 600 households. A combination of a double-bounded model and a spike model is applied for the purpose of increasing statistical efficiency and dealing with zero(0) willingness to pay data, respectively. The results show that the respondents are additionally willing to pay 6.05 won for 1kWh of electricity generated from IGCC power plant. In other words, the benefits from safeguarding energy security through building the IGCC power plant are 6.05 won per kWh. Given that the expected amount of generation from the Taean IGCC power plant that is scheduled to be built in late 2015 is 2.27 TWh per year, the benefits are estimated to be 13.74 billion won per year.

• Journal of the Korean Regional Science Association
• /
• v.31 no.4
• /
• pp.25-45
• /
• 2015

The government has implemented the projects of restoring the ecological integrity of streams to improve its water quality and provide resting places with local residents. Because the projects require huge public investments, their economic feasibility should be investigated through ex-post examination of their benefits. This study attempts to analyze the economic feasibility of restoring the ecological integrity using specific cases of Namyang stream in Hwaseong, Gyeonggi and Yugu stream in Gongju, Chungnam. The contingent valuation (CV) method is employed to measure the benefits. To this end, a professional polling firm conducted two CV surveys of 210 and 209 households for Hwaseong and Gongju, respectively. The willingness to pay (WTP) model used in the study is based on utility difference approach and the single-bounded dichotomous choice spike model. The results reveal that the WTP for restoring ecological integrity of the Namyang and Yugu streams are estimated to be 3,140 and 10,121 won per household per year. Interestingly, the latter is about three times greater than the former. The quantitative information can be used in economic feasibility analysis of the projects of restoring the ecological integrity of the Namyang and Yugu streams.

• Journal of the Korean Society of Marine Environment & Safety
• /
• v.20 no.2
• /
• pp.130-142
• /
• 2014

The Korean government is considering implementation of the marine ecosystem restoration technology program (MERTP) to analyze the current status of the marine ecosystems and causes for the ecosystem deterioration as well as to eventually establish a master strategic plan for restoring ecosystem functions and preventing ecosystem functional loss. In order to determine likelihood of successful implementation, it is essential to perform an analysis of the economic feasibility of the program. The present study assessed economic feasibility of the MERTP. To this end, the dichotomous choice contingent valuation (CV) method is used. In particular, dichotomous choice (DC) format is employed as a method of eliciting willingness-to-pay (WTP) response to incentive-compatible mechanisms. The study also employed the spike model to deal with zero WTP responses from the DC CV survey. This survey of 1,000 randomly selected households in accordance with the guidelines provided by the National Oceanic and Atmospheric Administration (USA) was carried out nationwide in 2013. And, the respondents were asked in person-to-person interviews about their WTP for implementing the MERTP. The results showed that the annual mean WTP was estimated to be 5,414 won per household. Consequently, the annual benefit from the MERTP would be about 98.6 billion won for the next five years. Economic feasibility assessment utilizing the MERTP investment cost and expansion cost of the value provided that net present value, benefit/cost ratio, and internal rate of return are 337.8 billion won, 5.20, and 65.9 %, respectively, which are bigger than 0, 1.0, and 5.5 %, and that the MERTP passes the cost-benefit analysis.

• Journal of Energy Engineering
• /
• v.22 no.2
• /
• pp.141-147
• /
• 2013

Electricity is a basis for human existence. This paper attempts to analyze the households' willingness to pay (WTP) for the residential electricity use. The WTP for the residential electricity use can be defined as the sum of actual price of and additional WTP for it. The former is easily observed in the market, but the second is not observed and thus should be obtained through a WTP survey of households. To this end, this study conducted a survey of randomly selected 1,000 households in Korea in November 2010. The results indicate that the mean additional WTP for the residential electricity use was estimated to be KRW 11.24 per kWh. Given that the average price of residential electricity was KRW 98.07 per kWh at the time of the survey, the economic benefit from the residential electricity use was computed as KRW 109.31 per kWh. This information can be compared with the cost involved in the supply of one kWh of residential electricity.

• Informatization Policy
• /
• v.25 no.2
• /
• pp.84-96
• /
• 2018

The right to be forgotten means the right of people to request information and communication providers to delete their information online. As the number of people asking for deletion of their past embarrassing or negative online activities is increasing, discussions are being raised on the introduction of the right to be forgotten in South Korea. However, previous research on the right to be forgotten mainly deals with the legal concept, with insufficient consideration of economic value. The main purpose of this research is to examine social perception towards the right to be forgotten and to estimate its economic value quantitatively. According to the results, there are concerns about disclosure of personal information, but with lack of awareness on the right to be forgotten. The monthly average amount that a person is willing to pay to be forgotten is 1,218 Korean won (11 US dollars) and the total economic value is estimated to be about 540 billion won (490 million dollars) per year in 2017. Especially, those who have experienced leakage of personal information put higher value to the right to be forgotten. These results can be useful for making decisions about the right to be forgotten in the future.

• Journal of Energy Engineering
• /
• v.24 no.1
• /
• pp.164-171
• /
• 2015

Although coal-fired power generation has played a role as base load unit, it has incurred various social costs in the process of generating and providing electricity. It is necessary to extend the proportion of low-carbon power generations, and reduce the ratio of coal-fired power generation to cope with global climate changes. This study, therefore, attempts to estimate the public's willingness-to-pay (WTP) for substitution of supplied electricity from hydro-electricity generation, a representative renewable energy, for coal-fired power generation. To this end, we apply the contingent valuation (CV) method, widely used technique when valuing non-market goods, to elicit the public's WTP. In addition, a spike model is employed to consider zero WTPs. After the empirical analysis with 1,000 households CV survey data, the results show that mean household's WTP for replacing supplied electricity from hydro-electricity generation with coal-fired power generation is estimated to be about 54 KRW per kWh. The results of this study are expected to contribute to determining energy-mix and provide benefit information of hydro-electricity generation.