How much value do people place on preserving the Seocheon coastal wetland in South Korea?

Kim, Ga-Eun; Kim, Ju-Hee; Yoo, Seung-Hoon

How much value do people place on preserving the Seocheon coastal wetland in South Korea?

2019

Kim, Ga-Eun | Kim, Ju-Hee | Yoo, Seung-Hoon

The ecosystem of the Seocheon coastal wetland (SCW), one of the wetland protected areas in South Korea, was registered in the Ramsar Wetlands in 2009 as an area rich in biodiversity and inhabited by endangered wild animals and plants. Since then, preserving the ecosystem of the SCW has emerged as an important task. Thus, the South Korean government is carrying out various research and management projects to preserve the ecological integrity of the SCW. This article aims to analyze public willingness to pay for preserving the SCW. For this purpose, 1000 households were surveyed, applying the contingent valuation (CV) method during September 2017. The respondents clearly understood the CV question and gave meaningful answers. The results show that an average value for the preservation was statistically significantly estimated to be KRW 2341 (USD 2.04) for all respondents. The national value expanded from the sample to the population is worth KRW 47.79 billion (USD 42.15 million) per year. Therefore, it can be seen that the public have sufficient acceptance for preserving the SCW.

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