Abstract
Although Sargassum horneri (S.horneri) is a valuable marine species, it can cause a number of damages if its population exceeds the appropriate level in a particular area. Floating S.horneri originated from China caused some damages of tourism and fishery, bad odor in some regions of South Korea. Therefore, the Ministry of Oceans and Fisheries plans to manage S.horneri in the regions by expanding direct collection and reclamation or utilization of that in sustainable way. The sustainable management requires significant cost and the cost will be covered by public fund. This study attempts to investigate the public willingness to pay (WTP) for the sustainable management of S.horneri using contingent valuation. A spike model was adopted for dealing with zero WTP in this study. The yearly mean WTP per household was estimated to be KRW 2,252 securing statistical significance. When the value expanded nationwide, it comes to KRW 45.83 billion per annum.
| Translated title of the contribution | What Value Does the Public Place on the Sustainable Management of a Troublesome Marine Species? The Case of Sargassum Horneri in South Korea |
|---|---|
| Original language | Korean |
| Pages (from-to) | 1-8 |
| Number of pages | 8 |
| Journal | 한국해양환경•에너지학회지 |
| Volume | 25 |
| Issue number | 1 |
| DOIs | |
| State | Published - Feb 2022 |