• Korean Association of Arts Management
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• no.53
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• pp.101-125
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• 2020

This paper presents the problems and improvement methods in estimating demand and benefit, which have been controversial in the feasibility study of building cultural facilities. Although there are justifications for supplying cultural facilities by expanding leisure time and increasing income, the economic burden from the insolvent operation after construction is high. Feasibility studies can prevent these problems in advance. In order to estimate the demand for cultural facilities, similar facilities were selected and the gravity model was used to estimate the demand. In the future, it is necessary to prepare the criteria for setting the reference facility to increase the accuracy of the demand estimation. In addition, in the case of cultural facilities constructed through feasibility study, it is necessary to induce and enforce the disclosure of operational data and information, and to establish a database so that it can be used as a reference facility for demand estimation in future feasibility study on cultural facility. Accurate benefit estimation requires multiple CVM surveys. In addition to the current CVM survey, this paper suggest that supplementary online non-face-to-face surveys is considered. Furthermore, this research suggests that the use of video media for explanation of alternative materials for cultural facilities to be constructed because the WTP may be excessive due to lack of alternatives for survey respondents in the current CVM survey.

• Journal of the Korean Institute of Landscape Architecture
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• v.50 no.5
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• pp.1-12
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• 2022

COVID-19 led to an increased need for mountainous urban parks in the city that can be enjoyed while moving rather than staying put. However, studies on the economic value of mountainous urban parks have been insufficient. As a result, this study investigates the economic value of Gyeyangsan, a mountainous urban park located in the city, by quantifying the value of natural resources provided to residents and analyzing the factors affecting these values. The results are summarized below. First, according to the economic value assessment of Gyeyangsan, the use value was 2,210 won per person or 4.42 billion won per year, and the preservation value was 6,182 won per household, or 129.37 billion won. Gyeyangsan's total assets value was assessed as 3.68 trillion won. Second, according to the estimates of the willingness to pay and the determinants for the use-value, the frequency of visits, age, and use satisfaction significantly impacted the intention to pay for the use-value. Third, according to the estimates of the willingness to pay and the determinants for the preservation value, the intention to revisit, volunteer participation, educational level, gender, and residence significantly influenced the intention to pay for the preservation value. According to the findings of this study, it will be possible to make crucial policy implications when setting a direction for future park management by presenting a practical policy plan for the maintenance of mountain parks in downtown areas and will broaden the scope of research.

• Asia Marketing Journal
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• v.15 no.4
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• pp.33-49
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• 2014

Environmental concern has been an important issue for a few decades, and the extent of consumer demand for eco-friendly consumption has been increased. This study seeks to investigate consumers' willingness to pay (WTP) a premium for eco-friendly cosmetics. This study evaluates how much more a consumer is willing to pay for eco-friendly cosmetics and examines significant factors influencing consumers' WTP for eco-friendly cosmetics. Consumers' WTP is measured using four different ecofriendly cosmetics: low-priced skin care cosmetics, low-priced makeup cosmetics, high-priced skin care cosmetics, and high-priced makeup cosmetics. This study uses the contingent valuation method (CVM) to estimate consumer's WTP for eco-friendly cosmetics. Survey questions were designed using both dichotomous choice and payment card method of CVM. Through face to face interviews and on-line surveys, the data were collected from women between 20 and 49 years old residing in Seoul and Kyeonggi area, Korea, in May 2010. A total of 226 questionnaires (132 from interviews and 94 from on-line) were included for the analytical sample in this study. The data were analyzed using descriptive analysis, T-test and Log-Logit analysis. The findings are as follows: First, the WTP measured by dichotomous choice method was estimated using the Log-Logit analysis. The results showed that the estimated WTP for low-priced skin care cosmetics was 19,152 won, which was 27.7% higher than the reference price, 15,000 won. For low-priced makeup cosmetics, the estimated WTP was 18,524 won, and its green premium was 21.0%. The estimated WTP for high-priced skin care cosmetics was 59,128 won, which was 18.3% higher than the reference price, 50,000 won. For high-priced makeup cosmetics was 57,666 won, and its green premium was 15.3%. Second, the WTP measure by payment card method was estimated using descriptive analysis. The results showed that the respondents were willing to pay 17,955 won for low-priced skin care cosmetics, which was 19.7% higher than the reference price, 15,000 won and 17,595 won for low-priced makeup cosmetics, which was 17.3% higher than the reference price. For high-priced skin care cosmetics, the average WTP was 56,950 won which was 13.9% higher than the reference price, 50,000 won. For high-priced makeup cosmetics, the average WTP was 55,650 won, which was 11.3% higher than the reference price. Overall, the WTP was higher in order of low-priced skin care, low-priced makeup, high-priced skin care, and high-priced makeup. It means that consumers decide degree of premium based on the price and the attributes of eco-friendly products. Third, the findings showed that age, monthly income, and having children or not were statistically significant factors that influenced consumers' willingness to pay for eco-friendly cosmetics. Other explanatory variables such as education, marital status, job, purchase experience of eco-friendly products, and environmental concerns did not show any statistical significance. The major contribution of this study is the investigation of the value of green attributes of the products by using CVM. Unlike most previous researches, this research used two methods of CVM, the dichotomous choice and the payment card, so it enhanced the reliability of research. According to this study, consumers showed price sensitivity when they pay green premium. These findings can be used as useful information to establish marketing strategies for green cosmetics.

• Korean Journal of Environment and Ecology
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• v.26 no.2
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• pp.273-282
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• 2012

This study has estimated Gyeongju National Park's natural environment and cultural relic value in the same way and then been performed to compare the size of the value. Representative method to measure environmental property is contingent valuation methods, CVM. The variables and estimated models adopted for the calculation were same and the respondents were asked by distinguishing between the amount which they would pay to preserve the natural environment and that which they were willing to pay to preserve the cultural relics. As the result, WTP(Willing to pay), the amount that they were willing to pay to preserve the natural environment of Gyeongju National Park was 17,838 won per person and that to preserve the cultural relics appeared to be 316,248 won per person. Based on this, it was estimated that the value of the natural environment with which Gyeongju National Park provided annual visitors was 47 billion won and that the annual value of the cultural relics was 845.7 billion. If the natural environment and the cultural relics value elements are united, it can be estimated that the natural environment and cultural relic value got at the time of people's first visit to Gyeongju National Park is 334,086 won and that the annual value is 893.4 billion won. In this study, the value of the cultural relics has been estimated 18 times higher than that of the natural environment. This reason was that visitors judged that a total of 66 cultural properties including 11 national treasures, 23 treasures, 13 historic places, one historic sites and scenic spot and 18 local cultural properties, etc. which were distributed in Gyeongju National Park were worth far more than the natural environment. Based on the result of this study, the operating management plan of Gyeongju National Park should include a differentiated operation strategy through consultation with relevant experts by taking into account characteristics of the physical components.

• Journal of the Korean Institute of Landscape Architecture
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• v.44 no.4
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• pp.1-13
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• 2016

To detail a picture of the economic value of Miscanthus landscape conservation in terms of cultural services aspects of Ecosystem Services, Sunghaksan(Mt.), Hwawangsan(Mt.) and Jaeyaksan(Mt.), which are known for their Miscanthus colonies, were chosen as survey sites. After examining the willingness to pay for the value of Miscanthus landscape conservation by targeting of visitors each study area, the economic value of Miscanthus landscape conservation per capita aspects was evaluated using Contingent Valuation Methods(CVM) from the collected willingness to pay for economic value of Miscanthus scenery by site. After using the target Chi-square test to analyze the differences among each site, the correlation between specific variables was investigated. Willingness to pay for the Miscanthus landscape conservation was found to increase as the respondents' income became higher. The more environmental conservation efforts were being made in their daily life, the higher willingness to pay was for Miscanthus landscape conservation. Likewise in other studies, the higher the bid was, the less willingness to pay was. The per capita assessment of the Miscanthus landscape value of the logit models in the dual estimated using the factor extracted with each of the injected variable bounds was estimated for Seunghaksan (\38,277), Hwawangsan(\38,648), and Jaeyaksan(\48,891). The average of the three sites was estimated to be \38,679. Assessment of the economic value of these Miscanthus landscape sites saw high willingness to pay by visitors when compared to the current market price inflation, such as watching movies or amusement park admission, which could mean that visitors recognize the value of ecosystem services from nature in evaluating the Miscanthus landscape.

• Journal of the Korean Institute of Landscape Architecture
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• v.39 no.1
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• pp.46-55
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• 2011

The importance of forests and plants are appreciated by all of us, but it is often overlooked because we are surrounded by it. The arboretum is one of facilities which provide users with education on the environment, knowledge about plants, and recreation, playing a role as a nature school by exhibiting and collecting plants of various ecosystems. Anyone can enjoy fresh air, a pleasant environment, and knowledge about a wide variety of plants on the condition that they aactually visit it and pay the entrance fee. However, it has not been measured whether the expense which users pay to enjoy an arboretum is a true value of arboretums. The environment that arboretums offer is extra-market goods, or public goods. A variety of ideas and methods to measure the value of public goods have been researched among economists, statisticians, and mathematicians. The Contingent Valuation Method(CVM) is most widely used a s an assessment method on environment goods and adopted as an estimation method for compensation for restoration of the environment by the American Supreme Court. The purpose of this study is to suggest a current monetary value correspondingent to the value of arboretums by applying the CVM. The survey suggested that when an arboretum provides a high educational value and when the respondents have a higher income, it is more likely that they would be willing to pay for entrance into the arboretum. The quantified value in monetary terms for the environmental value of Gyeongnam Arboretum is WTP mean \15,648; WTP median \13,648; and WTP truncated \15,449 per visitor. In annual terms, the amounts are calculated at WTP mean \8,408,265,024; WTP median \7,333,589,024; and WTP truncated \8,301,334,762. These quantified amounts can be thought to represent the value of conservation of arboretums and awaken users to the precious value of nature. Also, they are helpful to let the general public have proper knowledge about and recognize the value of arboretums and forests.