Abstract
After Korea launched the Chollian Satellite in 2010 and became a meteorological observation satellite holder, in 2018, the GEO-KOMPSAT-2A with a meteorological payload and GEO-KOMPSAT-2B with a marine and environmental payload were launched. In particular, GEO-KOMPSAT-2A, is expected to create various socioeconomic values by contributing to improving the accuracy of weather forecasts. Therefore, in this paper, the socioeconomic value generated by the utilization of GEO-KOMPSAT-2A is estimated, divided into two viewpoints of cost reduction and value creation. Considering the 10-year lifespan of GEO-KOMPSAT-2A and 4.5% social discount rate, the present value of the socioeconomic value was analyzed to be KRW 1.851 trillion as of the end of 2019. In addition, cost-benefit analysis was carried out by reflecting investment and operation costs of the GEO-KOMPSAT-2A project. As a result of the cost-benefit analysis, the benefit/cost ratio, net present value, and internal rate of return of the GEO-KOMPSAT-2A project were 2.38, KRW 1.86 trillion, and 17.25%, respectively, exceeding 1.0, 0, and 4.5%, respectively. In other words, it can be concluded that the GEO-KOMPSAT-2A project is socially desirable because it ensures economic feasibility.
| Translated title of the contribution | Assessing the Socioeconomic Value of Utilizing the Geostationary Orbit: The Case of GEO-KOMPSAT-2A |
|---|---|
| Original language | Korean |
| Pages (from-to) | 159-185 |
| Number of pages | 27 |
| Journal | 한국혁신학회지 |
| Volume | 16 |
| Issue number | 1 |
| State | Published - Feb 2021 |