Abstract
The Korean government is considering the implementation of the marine debris pollution abatement technology program (MDPATP) to mitigate the negative impacts of marine debris and systematically manage marine debris through scientific researches such as monitoring and environmental impact assessment of marine debris. In this regard, this study attempts to analyze the economic feasibility of the MDPATP in order to provide policy-maker with useful information. To this end, the indices for economic feasibility such as net present value (NPV), benefit/cost (B/C) ratio, and internal rate of return (IRR) are presented. The results show that NPV, B/C ratio, and IRR are computed to be 45.7 billion won, 2.72, and 17.12%, respectively, which are bigger than 0, 1.0, and 5.5%, and that the MDPATP passes the cost-benefit analysis. Thus, it is concluded that it is socially profitable to conduct the MDPATP.
| Translated title of the contribution | Economic Feasibility Analysis of Marine Debris Pollution Abatement Technology Program |
|---|---|
| Original language | Korean |
| Pages (from-to) | 274-282 |
| Number of pages | 9 |
| Journal | 한국해양환경•에너지학회지 |
| Volume | 17 |
| Issue number | 4 |
| DOIs | |
| State | Published - Nov 2014 |