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Ms. Hye-Min Kim
National Institute of Meteorological Sciences, Korea Meteorological Administration

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0 Econometrics
0 Environmental Economics
0 Choice Experiment
0 Valuation of energy and environmental technology
0 Contingent valuation

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Researcher (National Institute of Meteorological Sciences, 2015~) Researcher (Korea Institute of Ocean Science and Technology, 2013~2014) Master's degree in Economic (Seoul National Univ. of Science and Technology) Bachelor's degree in Business (Seoul National Univ. of Science and Technology)

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Journal article
Published: 21 June 2021 in Sustainability
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Meteorological information at an arrival airport is one of the primary variables used to determine refueling of discretionary fuel. This study evaluated the economic value of terminal aerodrome forecasts (TAF), which has not been previously quantitatively analyzed in Korea. The analysis data included 374,716 international flights that arrived at Incheon airport during 2017–2019. A cost–loss model was used for the analysis, which is a methodology to evaluate forecast value by considering the cost and loss that users can expect, considering the decision-making result based on forecast utilization. The value was divided in terms of improving fuel efficiency and reducing CO2 emissions. The results of the analysis indicate that the annual average TAF value for Incheon Airport was approximately 2.2 M–20.1 M USD under two hypothetical rules of refueling of discretionary fuel. This value is up to 26.2% higher than the total budget of 16.3 M USD set for the production of aviation meteorological forecasts by the Korea Meteorological Administration (KMA). Further, it is up to 10 times greater than the 2 M USD spent on aviation meteorological information fees collected by the KMA in 2018.

ACS Style

In-Gyum Kim; Hye-Min Kim; Dae-Geun Lee; Byunghwan Lim; Hee-Choon Lee. Economic Value of Terminal Aerodrome Forecasts at Incheon Airport, South Korea. Sustainability 2021, 13, 6965 .

AMA Style

In-Gyum Kim, Hye-Min Kim, Dae-Geun Lee, Byunghwan Lim, Hee-Choon Lee. Economic Value of Terminal Aerodrome Forecasts at Incheon Airport, South Korea. Sustainability. 2021; 13 (12):6965.

Chicago/Turabian Style

In-Gyum Kim; Hye-Min Kim; Dae-Geun Lee; Byunghwan Lim; Hee-Choon Lee. 2021. "Economic Value of Terminal Aerodrome Forecasts at Incheon Airport, South Korea." Sustainability 13, no. 12: 6965.