Abstract
The current study attempted to assess the environmental value of Geum-river estuary for rational management decision-making. To investigate the comprehensive properties of the Geum-river estuary, we applied the contingent valuation method based on multi-attribute utility theory. We surveyed a randomly selected sample of 400 and 600 households of the Geum-river estuary-neighboring area (Jeollabuk-do, Chungcheongnam-do), and other nation-wide large districts (except Jeollabuk-do, Chungcheongnam-do, and Jeju-do), respectively, and carried out person-to-person interviews with subjects on their willingness-to-pay for the estuary conservation and management program. Respondents, overall, accepted the contingent market system and were willing to contribute a significant amount, that is 1,497 won for the residents from the Geum-river estuary-neighboring area and 4,343 won for the residents from other nation-wide large districts on average, per household per year. These results implied that there were large difference between the two groups. The aggregate values of the Geum-river estuary for the estuary-neighboring area and other nation-wide large districts amount to 2.13 and 70.15 billion won, respectively, per year. This quantitative value deduced from the current study, could be a useful baseline fact for any decision-making process particularly in the establishment of management policies for the Geum-river estuary.
| Translated title of the contribution | Assessment of the Environmental Value of the Geum-river Estuary |
|---|---|
| Original language | Korean |
| Pages (from-to) | 417-429 |
| Number of pages | 13 |
| Journal | 해양환경안전학회지 |
| Volume | 19 |
| Issue number | 5 |
| DOIs | |
| State | Published - Oct 2013 |