• Journal of the Korean Society of Safety
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• v.27 no.6
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• pp.1-6
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• 2012

This study focuses on the benefit-cost analysis of certification of more than eight hundred devices and equipments used primarily in farm work. Specifically, EPA-suggested averting behavior approach was used for the analysis. Cost-benefit analysis indicates that there will be a net cost of 30 billion won for the first year since the introduction of the certification system. It is expected, however, that net benefit of 568 billion won after 11 years and the accumulated net benefit will reach to 3,867 billion won. These results validate the introduction of safety certification systems for devices and equipments used in farm work sites.