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South Korea tried to drastically expand the capacity of wind power generation from 1.8 GW in 2020 to 24.9 GW in 2034. Moreover, the “Green New Deal” policy is being implemented to promote employment and growth by using domestic wind power facilities. This article estimates additional willingness to pay (WTP) or price premium, for electricity generated from domestic wind power facilities over that from imported ones. For this purpose, a contingent valuation survey of 1000 households was carried out employing the closed-ended question during September 2020. A spike model is utilized to reflect the zero WTP values reported by 58.3% of the interviewees. Several factors affecting the price premium were also analyzed to derive implications. The average price premium for electricity generated from domestic wind power generation facilities was estimated to be KRW 22.5 (USD 0.019) per kWh with statistical significance. This value reaches 21.4% of the electricity price for 2019 (KRW105 or USD 0.089 per kWh). It should be noted that more than half of the people reported a zero price premium, as they thought that “Green” is more important than “New Deal,” or they worried that the supply of domestic wind power facilities could raise electricity bills.
Kyung-Sook Lee; Ju-Hee Kim; Seung-Hoon Yoo. Would people pay a price premium for electricity from domestic wind power facilities? The case of South Korea. Energy Policy 2021, 156, 112455 .
AMA StyleKyung-Sook Lee, Ju-Hee Kim, Seung-Hoon Yoo. Would people pay a price premium for electricity from domestic wind power facilities? The case of South Korea. Energy Policy. 2021; 156 ():112455.
Chicago/Turabian StyleKyung-Sook Lee; Ju-Hee Kim; Seung-Hoon Yoo. 2021. "Would people pay a price premium for electricity from domestic wind power facilities? The case of South Korea." Energy Policy 156, no. : 112455.
Since the price for residential heat (RH) from district heating system in South Korea is regulated by the government rather than being freely determined in the market, it is difficult to estimate the demand function for RH properly using the distorted market data. Thus, undistorted data on price and demand are required in obtaining the demand function. This article tries to estimate the demand function for RH by applying the price sensitivity measurement (PSM) technique, with some variation, and then use this to obtain information about the price and income elasticities. To this end, in the PSM survey 1000 households were first asked about their consumption of RH and their expenditure on that consumption and then asked about how much they would lower their demand for RH in response to four hypothetical increases in the price for RH (10%, 20%, 50%, and 100%). Thus, five sets of price and consumption of RH were available for each household. The demand function for RH was estimated using a total of 5000 observations. The price and income elasticities were estimated with statistical significance to be about −0.478 and 0.033, respectively. These values can be utilized in decision-making and/or policy-making related to RH management.
Seul-Ye Lim; Jeoung-Sik Min; Seung-Hoon Yoo. Price and Income Elasticities of Residential Heat Demand from District Heating System: A Price Sensitivity Measurement Experiment in South Korea. Sustainability 2021, 13, 7242 .
AMA StyleSeul-Ye Lim, Jeoung-Sik Min, Seung-Hoon Yoo. Price and Income Elasticities of Residential Heat Demand from District Heating System: A Price Sensitivity Measurement Experiment in South Korea. Sustainability. 2021; 13 (13):7242.
Chicago/Turabian StyleSeul-Ye Lim; Jeoung-Sik Min; Seung-Hoon Yoo. 2021. "Price and Income Elasticities of Residential Heat Demand from District Heating System: A Price Sensitivity Measurement Experiment in South Korea." Sustainability 13, no. 13: 7242.
Air pollution is an important global issue, and governments are making efforts to reduce air pollutant emissions. The elaborate calculation of the social costs of air pollution is essential for justifying the substantial public expenditure on air pollution control policies. This study aims to derive the monetary value of reducing different kinds of air pollutants through the public's willingness to pay (WTP). A choice experiment survey is conducted to examine the public perception of air quality improvement, and the collected stated preference data are analysed with the hierarchical Bayesian logit model. The analysis results show that the public valuation of the emission reduction differs for individual pollutants. On average, the monetary value of one ton of emission reduction follows the order of PM2.5, PM10, SOx, TSP, NOx, and VOC. Based on the elicited WTP, the economic feasibility of the two air pollutant reduction plans of the South Korean Government is assessed. The benefit-to-cost ratio of the plans is 0.61 and 0.66, respectively, based on the mean WTP, indicating that they are not economically feasible at the moment. Implications for the efficient budget allocation of air pollution control policies are provided based on the results.
Hyungbin Moon; Seung-Hoon Yoo; Sung-Yoon Huh. Monetary valuation of air quality improvement with the stated preference technique: A multi-pollutant perspective. Science of The Total Environment 2021, 793, 148604 .
AMA StyleHyungbin Moon, Seung-Hoon Yoo, Sung-Yoon Huh. Monetary valuation of air quality improvement with the stated preference technique: A multi-pollutant perspective. Science of The Total Environment. 2021; 793 ():148604.
Chicago/Turabian StyleHyungbin Moon; Seung-Hoon Yoo; Sung-Yoon Huh. 2021. "Monetary valuation of air quality improvement with the stated preference technique: A multi-pollutant perspective." Science of The Total Environment 793, no. : 148604.
The South Korean government is seeking information on the environmental conservation value (ECV) of Cypripedium japonicum, a plant on the first-level priority endangered species list of the Korea Ministry of Environment, as well as on the Red List of the International Union for Conservation of Nature. This research paper aims to assess the ECV by employing contingent valuation (CV) to elicit people’s willingness to pay (WTP) for its conservation. To achieve this aim, in May 2020, a CV survey of 1,000 interviewees in South Korea was carried out employing a closed-ended question. The average household WTP is estimated to be KRW 3,770 (USD 3.07) per annum and secures statistical significance. From a national point of view, using information on the national population, this value comes to KRW 76.72 billion (USD 62.42 million) per year. Although the cost of conserving the species has not yet been accurately estimated, the ECV seems to be larger than the cost of conservation. Thus, it is socially desirable to conserve Cypripedium japonicum, and the conservation should be carried out in a stable and continuous manner.
Ju-Hee Kim; Chang-Min Kim; Seung-Hoon Yoo. Environmental conservation value of an endangered species: the case of Cypripedium Japonicum. Environmental Science and Pollution Research 2021, 1 -10.
AMA StyleJu-Hee Kim, Chang-Min Kim, Seung-Hoon Yoo. Environmental conservation value of an endangered species: the case of Cypripedium Japonicum. Environmental Science and Pollution Research. 2021; ():1-10.
Chicago/Turabian StyleJu-Hee Kim; Chang-Min Kim; Seung-Hoon Yoo. 2021. "Environmental conservation value of an endangered species: the case of Cypripedium Japonicum." Environmental Science and Pollution Research , no. : 1-10.
South Korea seeks to increase the capacity of solar power generation from 10.5GW in 2019 to 68.8GW in 2034. In the process of promoting the increase, the government is trying to increase the use of domestic solar power generation facilities by enhancing their technological competitiveness and price competitiveness. This study attempts to estimate price premium or additional willingness to pay (WTP) for electricity generated using domestic solar power facilities over that from imported ones. As a method to do so, contingent valuation (CV) is adopted. A nationwide CV survey was conducted on 1,000 people during October 2020. A closed-ended question was used to elicit the WTP responses. Furthermore, a spike model was applied to analyzing the WTP data with many zeros. The price premium was estimated to be KRW 26.0 (USD 0.023) per kWh, with statistical significance, which comes to 24.8% of the price of electricity for 2019 (KRW 105 or USD 0.089 per kWh). Some factors related to the interviewees’ characteristics or recognition were found to affect the price premium significantly.
Ju-Hee Kim; Seong-Jae Seo; Seung-Hoon Yoo. South Koreans’ willingness to pay price premium for electricity generated using domestic solar power facilities over that from imported ones. Solar Energy 2021, 224, 125 -133.
AMA StyleJu-Hee Kim, Seong-Jae Seo, Seung-Hoon Yoo. South Koreans’ willingness to pay price premium for electricity generated using domestic solar power facilities over that from imported ones. Solar Energy. 2021; 224 ():125-133.
Chicago/Turabian StyleJu-Hee Kim; Seong-Jae Seo; Seung-Hoon Yoo. 2021. "South Koreans’ willingness to pay price premium for electricity generated using domestic solar power facilities over that from imported ones." Solar Energy 224, no. : 125-133.
The South Korean government is attempting to expand the capacity of offshore wind farming (OWF) from 1.2GW in 2017 to 16.5GW in 2030. Accordingly, the environmental impacts of OWF have become a social issue, and the government needs information about the public acceptance of OWF. This paper seeks to evaluate the public acceptance of OWF in South Korea through a choice experiment (CE). The five attributes chosen are the distance from land to the offshore wind farm (Distance), the number of generators in the offshore wind farm (Number), the height of the generators to be seen above sea level (Height), a decrease in marine life (Life), and the location of the offshore wind farm (Location). The price attribute is an increase in yearly household income tax. A mixed logit model is applied to estimating a utility function from the gathered CE data. All the coefficients for the attributes in the utility are estimated with statistical significance. The sign of the coefficient for Distance is positive, but the signs of all other coefficients are negative. The results of estimating the utility function can be useful in evaluating the environmental impacts of an OWF project from a monetary standpoint.
Ju-Hee Kim; Kyung-Ran Choi; Seung-Hoon Yoo. Evaluating the South Korean public perceptions and acceptance of offshore wind farming: evidence from a choice experiment study. Applied Economics 2021, 53, 3889 -3899.
AMA StyleJu-Hee Kim, Kyung-Ran Choi, Seung-Hoon Yoo. Evaluating the South Korean public perceptions and acceptance of offshore wind farming: evidence from a choice experiment study. Applied Economics. 2021; 53 (33):3889-3899.
Chicago/Turabian StyleJu-Hee Kim; Kyung-Ran Choi; Seung-Hoon Yoo. 2021. "Evaluating the South Korean public perceptions and acceptance of offshore wind farming: evidence from a choice experiment study." Applied Economics 53, no. 33: 3889-3899.
It is quite important to improve energy efficiency of an apartment in South Korea since it is the most common residential space. The government needs information about the public willingness to pay (WTP) for the impacts of the improvement. This article explores the public WTP employing a choice experiment (CE). To this end, four attributes of reduction in greenhouse gas emissions, abatement in air pollutant emissions, betterment in residential convenience, and enhancement energy security were selected for the impacts. The price attribute was the additional price involved in improving energy efficiency of an apartment per 3.3m2. A total of 1000 interviewees were surveyed across the country through person-to-person interviews. A mixed logit model was applied in estimating a utility function from the gathered CE data to allow for preference heterogeneity. All the coefficient estimates for the utility function showed statistical significance. The marginal WTP estimates for a 1%p reduction in greenhouse gas emissions, a 1%p abatement in air pollutant emissions, betterment in residential convenience, and enhancement in energy security were KRW 31,740 (USD 28.2), 13,289 (USD 11.8), 64,799 (USD 57.6), and 119,723 (USD 106.4) per 3.3m2, respectively. These figures indicate the price premium for an apartment with improved energy efficiency.
Ju-Hee Kim; Younggew Kim; Seung-Hoon Yoo. Using a choice experiment to explore the public willingness to pay for the impacts of improving energy efficiency of an apartment. Quality & Quantity 2021, 1 -19.
AMA StyleJu-Hee Kim, Younggew Kim, Seung-Hoon Yoo. Using a choice experiment to explore the public willingness to pay for the impacts of improving energy efficiency of an apartment. Quality & Quantity. 2021; ():1-19.
Chicago/Turabian StyleJu-Hee Kim; Younggew Kim; Seung-Hoon Yoo. 2021. "Using a choice experiment to explore the public willingness to pay for the impacts of improving energy efficiency of an apartment." Quality & Quantity , no. : 1-19.
South Korea is pursuing an energy transition policy (ETP) of expanding the use of renewable energy and natural gas and decreasing that of nuclear energy and coal in total generation. An investigation of whether the public is for or against the ETP is needed by the government. This article explores the public preference toward the ETP employing the data collected through a survey of 1000 individuals. They were asked to reveal their preference for the ETP on a five-point scale in the survey. Overall, there are more advocates of the ETP than those who opposed it. For the purpose of analyzing the determinants of advocacy and opposition of the ETP, an ordered probit model is employed. The results suggest that people living in the Seoul Metropolitan area think that the environment is more important than new jobs, or know the renewable energy 100% campaign before the survey is more favorable to the ETP than others. However, people who use electricity for heating tend to be negative about the ETP. As the age increases, people approve of the ETP, but when age goes beyond a certain level, they oppose it.
Ju-Hee Kim; Jae-Hyung Park; Seung-Hoon Yoo. Public preference toward an energy transition policy: the case of South Korea. Environmental Science and Pollution Research 2020, 27, 45965 -45973.
AMA StyleJu-Hee Kim, Jae-Hyung Park, Seung-Hoon Yoo. Public preference toward an energy transition policy: the case of South Korea. Environmental Science and Pollution Research. 2020; 27 (36):45965-45973.
Chicago/Turabian StyleJu-Hee Kim; Jae-Hyung Park; Seung-Hoon Yoo. 2020. "Public preference toward an energy transition policy: the case of South Korea." Environmental Science and Pollution Research 27, no. 36: 45965-45973.
Gomsoman Tidal Flat (GTF) in South Korea has been designated as a marine protected area in 2007, a Ramsar wetland in 2010, and a UNESCO Biosphere Reserve in 2013. However, as some area of it had been destroyed the Government plans to restore the destroyed area of the GTF. The objective of this article is, therefore, to investigate the public value of accomplishing the plan applying the contingent valuation (CV), a technique that asks randomly chosen people about their willingness to pay (WTP) for the accomplishment. For this purpose, a CV survey of 1000 households was conducted using a one-and-one-half-bounded dichotomous choice question format for a method of WTP elicitation and yearly household income tax for a payment vehicle. Since a number of interviewees (60.5%) reported zero WTP values, a spike model was adopted to analyze the gathered CV data with zero WTP observations. The mean household WTP was statistically significantly estimated to be KRW 3170 (USD 2.7) per year. The yearly national value is worth KRW 63.3 billion (USD 53.9 million). The benefits ensuing from the accomplishment are much greater than the costs involved in it.
Ju-Hee Kim; Sin-Young Kim; Seung-Hoon Yoo. South Koreans’ willingness to pay for restoration of Gomsoman Tidal Flat. Ocean & Coastal Management 2020, 199, 105388 .
AMA StyleJu-Hee Kim, Sin-Young Kim, Seung-Hoon Yoo. South Koreans’ willingness to pay for restoration of Gomsoman Tidal Flat. Ocean & Coastal Management. 2020; 199 ():105388.
Chicago/Turabian StyleJu-Hee Kim; Sin-Young Kim; Seung-Hoon Yoo. 2020. "South Koreans’ willingness to pay for restoration of Gomsoman Tidal Flat." Ocean & Coastal Management 199, no. : 105388.
Submerged marine debris (SMD) scattered between sea level and the bottom of the sea damages the habitats of marine life and threatens its growth in South Korea. The collection of SMD is more difficult and expensive than that of coastal and floating debris. The government is trying to achieve a 33% reduction in SMD by 2023 by expanding its collection, which requires huge additional investments and additional information about the economic value or benefits of the reduction. This article seeks to conduct an economic valuation of the reduction by employing contingent valuation (CV), which asks people to indicate their willingness to pay (WTP) for the reduction. A dichotomous choice CV survey was undertaken with 1000 households by a professional survey firm through person-to-person interviews during July 2019. Overall, people understood the CV questions well and reported the WTP responses for a hypothetical market successfully created with CV. Although 37.9% of interviewees stated zero WTP, the average of the yearly household WTP was estimated as 5523 Korean won (KRW) (USD 4.92). This value ensures statistical significance. The population’s WTP for the reduction would be KRW 110.30 billion (USD 99.75 million) per year over the next five years. It was found that the reduction is socially beneficial since the value was greater than the costs involved in the reduction.
Se-Jun Jin; Young-Ju Kwon; Seung-Hoon Yoo. Economic Valuation of Reducing Submerged Marine Debris in South Korea. Applied Sciences 2020, 10, 6086 .
AMA StyleSe-Jun Jin, Young-Ju Kwon, Seung-Hoon Yoo. Economic Valuation of Reducing Submerged Marine Debris in South Korea. Applied Sciences. 2020; 10 (17):6086.
Chicago/Turabian StyleSe-Jun Jin; Young-Ju Kwon; Seung-Hoon Yoo. 2020. "Economic Valuation of Reducing Submerged Marine Debris in South Korea." Applied Sciences 10, no. 17: 6086.
The South Korean government has been pushing for an energy transition, reducing nuclear power (NP) generation and increasing renewable energy (RE) generation, since mid-2017. The government needs quantitative information on the economic effects of the two sectors. This article aims to derive such information through an input-output (IO) analysis using the recently published 2015 IO table. The production-inducing effects, value-added creation effects, and wage-inducing effects of one dollar of production in the two sectors are analyzed using a demand-driven model. One dollar of production or investment in the two sectors causes 1.606 and 1.718 dollars of production, 0.856 and 0.859 dollars of value-added, and 0.168 and 0.174 dollars of wage, respectively. The economic effects of the RE sector are greater than those of the NP sector. The supply-shortage effects of the two sectors are examined using a supply-driven model. One dollar of supply shortage in the RE and NP sectors brings 1.673 and 1.670 dollars of production failure, respectively. The production failure resulting from the supply shortage in the RE sector is smaller than that of the NP sector. A price-side model also revealed that a 10% increase in the price of output in the NP and RE sectors raises the overall price levels by 0.05858% and 0.01304%, respectively. The RE sector is thus better than the NP sector in terms of minimizing supply shortage effects and price-pervasive effects, as well as maximizing economic effects.
Ju-Hee Kim; Seung-Hoon Yoo. Comparison of the economic effects of nuclear power and renewable energy deployment in South Korea. Renewable and Sustainable Energy Reviews 2020, 135, 110236 .
AMA StyleJu-Hee Kim, Seung-Hoon Yoo. Comparison of the economic effects of nuclear power and renewable energy deployment in South Korea. Renewable and Sustainable Energy Reviews. 2020; 135 ():110236.
Chicago/Turabian StyleJu-Hee Kim; Seung-Hoon Yoo. 2020. "Comparison of the economic effects of nuclear power and renewable energy deployment in South Korea." Renewable and Sustainable Energy Reviews 135, no. : 110236.
A project collecting a total of 24.3 million cubic meters of sea sand from the aggregate extraction complex in the exclusive economic zone of the South Sea in South Korea has been under way. The government needs information about the public perspective on the environmental impacts of the sea sand mining project. This paper attempts to examine the public perspective by employing a choice experiment (CE). The attributes chosen to represent the environmental impacts are an increase in coastal erosion, a decrease in benthos, a decrease in fish, and deterioration of the sea water quality, and the price attribute is the additional annual income tax per household. A total of 1000 interviewees were surveyed across the country through person-to-person interviews. A mixed logit model, which has the advantage of being able to reflect preference heterogeneity, was applied to estimating a utility function from the gathered CE data. All the coefficients for the attributes were estimated to be statistically significant. The environmental costs of a 1% increase in coastal erosion, a 1% decrease in benthos, a 1% decrease in fish, and a 1% deterioration in the sea water quality were KRW 100 (USD 0.09), 76 (0.07), 152 (0.14), and 123 (0.11), respectively, per household per year. Combining these results with the environmental impact assessment results for the project allows a quantitative assessment of the environmental costs of the project.
Ju-Hee Kim; Seung-Hoon Yoo. Public perspective on the environmental impacts of sea sand mining: Evidence from a choice experiment in South Korea. Resources Policy 2020, 69, 101811 .
AMA StyleJu-Hee Kim, Seung-Hoon Yoo. Public perspective on the environmental impacts of sea sand mining: Evidence from a choice experiment in South Korea. Resources Policy. 2020; 69 ():101811.
Chicago/Turabian StyleJu-Hee Kim; Seung-Hoon Yoo. 2020. "Public perspective on the environmental impacts of sea sand mining: Evidence from a choice experiment in South Korea." Resources Policy 69, no. : 101811.
The South Korean government is planning to expand the share of renewable energy generation to 20% by 2030 from 2.2% in 2016. As a part of the plan, a project is underway to install a large-scale offshore wind farm with a total capacity of 2.46 GW in the Southwest sea of South Korea. This article reports on the public acceptance of the project using data from a nationwide survey of 1000 individuals asking their opinion about the project through a Likert five-point scale. To this end, an ordered probit model is applied to analyze the determinants of pros and cons of the project. Of the respondents, 43.3% agreed to the project and 23.8% disagreed to that. Overall, South Koreans are supportive of the project. The results show that people who live in the Seoul Metropolitan area, those who are richer than others, those who has installed solar power facility for family use, those who consider the level of proper ratio of natural gas generation to be high, and/or those who are politically progressive are more supportive of the project than others. On the other hand, the respondents using more electricity tend to oppose the project than others. These findings could be used as an important reference in the governmental promotion for the project.
Ju-Hee Kim; Jungho Nam; Seung-Hoon Yoo. Public acceptance of a large-scale offshore wind power project in South Korea. Marine Policy 2020, 120, 104141 .
AMA StyleJu-Hee Kim, Jungho Nam, Seung-Hoon Yoo. Public acceptance of a large-scale offshore wind power project in South Korea. Marine Policy. 2020; 120 ():104141.
Chicago/Turabian StyleJu-Hee Kim; Jungho Nam; Seung-Hoon Yoo. 2020. "Public acceptance of a large-scale offshore wind power project in South Korea." Marine Policy 120, no. : 104141.
The South Korean government plans to construct sea forests of 35,640ha until 2030 to reduce the appearance of urchin barren causing the desertification of the sea. The construction will help restore the ecological integrity of the damaged marine ecosystem and require the injection of taxes paid by the public. This study, therefore, examines the public perspective on the construction using an economic approach of contingent valuation (CV). The data on the public willingness to pay (WTP) for the construction were collected from a CV survey of 1000 households across the country, adopting a dichotomous-choice question format, during July 2019. As not a few interviewees responded zero WTP for various reasons, a spike model that could reflect zero WTP observations was utilized. The household WTP for the construction was estimated, with statistical significance, to be KRW 3304 (USD 2.81) per year. If this value is expanded to all households in South Korea, it is worth KRW 66.46 billion (USD 56.56 million). The present value of the benefits ensuing from the construction, taking into account the payment period of 10 years and the social discount rate of 4.5%, is KRW 633.31 billion (USD 538.99 million), which exceeds the present value of the involved costs (KRW 391.67 billion or USD 333.34 million). The net present value and benefit–cost ratio of the construction were computed to be KRW 241.64 billion (USD 205.65 million) and 1.62, respectively, and thus the construction of sea forests is socially beneficial to the public.
Kyung-Ran Choi; Ju-Hee Kim; Seung-Hoon Yoo. Public perspective on constructing sea forests as a public good: A contingent valuation experiment in South Korea. Marine Policy 2020, 120, 104146 .
AMA StyleKyung-Ran Choi, Ju-Hee Kim, Seung-Hoon Yoo. Public perspective on constructing sea forests as a public good: A contingent valuation experiment in South Korea. Marine Policy. 2020; 120 ():104146.
Chicago/Turabian StyleKyung-Ran Choi; Ju-Hee Kim; Seung-Hoon Yoo. 2020. "Public perspective on constructing sea forests as a public good: A contingent valuation experiment in South Korea." Marine Policy 120, no. : 104146.
When South Korea develops a new city, the government has made a preliminary decision on one of two heating systems, an individual heating system (IHS) or a district heating system (DHS). However, it is still unclear which system is desirable in terms of maximizing the national economic effect. Thus, this article aims to derive quantitative information about the economic effects of the same amount of production or investment in the two systems through an input-output (IO) analysis using the recently published 2017 IO table. More specifically, the production-inducing effects, value-added creation effects, and wage-inducing effects are systematically analyzed focusing on the IHS and DHS sectors. The results show that one dollar of production or investment in IHS or DHS causes about 1.073 and 1.388 dollars of production, about 0.228 and 0.658 dollars of value-added, and about 0.051 and 0.108 dollars in wages, respectively, throughout the national economy. Overall, the economic effects of the DHS sector are greater than those of the IHS sector. That is, when the same amount of investment or production is made in the two sectors, DHS produces more economic effects than IHS.
Ju-Hee Kim; Sin-Young Kim; Seung-Hoon Yoo. Economic Effects of Individual Heating System and District Heating System in South Korea: An Input-Output Analysis. Applied Sciences 2020, 10, 5037 .
AMA StyleJu-Hee Kim, Sin-Young Kim, Seung-Hoon Yoo. Economic Effects of Individual Heating System and District Heating System in South Korea: An Input-Output Analysis. Applied Sciences. 2020; 10 (15):5037.
Chicago/Turabian StyleJu-Hee Kim; Sin-Young Kim; Seung-Hoon Yoo. 2020. "Economic Effects of Individual Heating System and District Heating System in South Korea: An Input-Output Analysis." Applied Sciences 10, no. 15: 5037.
The mining industry (MI) has played a role in proving a stable supply of minerals for industrial production and human survival. The South Korean government is implementing various policies to promote the MI and needs quantitative information on the economic role and effects of the MI. Thus, this article aims to derive the information through an input-output (IO) analysis using the recently published 2015 IO table, subdividing the MI into four sectors, namely coal, crude petroleum and natural gas, metal ores, and non-metallic mineral mining, and treating the MI as exogenous rather than endogenous. To this end, three models are employed. First, the production-inducing effects, value-added creation effects, and wage-inducing effects of 1 dollar of production in the MI sector are analyzed using a demand-driven model. One dollar of production or investment in the sector causes 1.81 of production, 0.85 dollar of value-added, and 0.33 dollar of wage, respectively. Second, by applying a supply-driven model, it is found that one dollar of supply shortage in the MI causes 2.24 dollars of production failure throughout the national economy. Third, by utilizing a price-side model, it is discovered that a 10% increase in the price of output of the MI raises the overall price level by 0.025%.
Kyung-Hag Kim; Ju-Hee Kim; Seung-Hoon Yoo. An Input-Output Analysis of the Economic Role and Effects of the Mining Industry in South Korea. Minerals 2020, 10, 624 .
AMA StyleKyung-Hag Kim, Ju-Hee Kim, Seung-Hoon Yoo. An Input-Output Analysis of the Economic Role and Effects of the Mining Industry in South Korea. Minerals. 2020; 10 (7):624.
Chicago/Turabian StyleKyung-Hag Kim; Ju-Hee Kim; Seung-Hoon Yoo. 2020. "An Input-Output Analysis of the Economic Role and Effects of the Mining Industry in South Korea." Minerals 10, no. 7: 624.
South Korea is planning to substitute some residential natural gas (NG), a fossil fuel that relies on imports, with renewable methane (RM) from bio-gas, a renewable energy source. Thus, information about households’ willingness to pay (WTP) for implementing the plan is widely needed. This article, therefore, examines the WTP using an economic approach of contingent valuation (CV). More specifically, 1000 households were asked about the additional WTP for RM over NG through in-person face-to-face surveys across the country, adopting a dichotomous choice question format, during August 2018. As a few interviewees responded zero WTP for various reasons, a spike model that could reflect zero WTP observations was utilized. The household additional WTP for RM over NG was estimated, with statistical significance, as 191.46 Korean won (USD 0.17) per m3 and worth 31.9% of the average price of residential NG. This value means a price premium for RM compared to NG. In other words, this study found that South Korean consumers value residential RM about 1.32 times as much as residential NG. These results from the CV experiment could be a useful reference in establishing and implementing RM-related policies.
Sung-Min Kim; Ju-Hee Kim; Seung-Hoon Yoo. Households’ Willingness to Pay for Substituting Natural Gas with Renewable Methane: A Contingent Valuation Experiment in South Korea. Energies 2020, 13, 3082 .
AMA StyleSung-Min Kim, Ju-Hee Kim, Seung-Hoon Yoo. Households’ Willingness to Pay for Substituting Natural Gas with Renewable Methane: A Contingent Valuation Experiment in South Korea. Energies. 2020; 13 (12):3082.
Chicago/Turabian StyleSung-Min Kim; Ju-Hee Kim; Seung-Hoon Yoo. 2020. "Households’ Willingness to Pay for Substituting Natural Gas with Renewable Methane: A Contingent Valuation Experiment in South Korea." Energies 13, no. 12: 3082.
The South Korean Government is considering designating Jaran Bay, the habitat of the endangered marine species, Neophocaena asiaeorientalis, as a marine protected area. The Government needs information about public acceptance and the economic benefits of the designation. To unveil the information, this article aims to examine the public willingness to pay (WTP) using a contingent valuation based on a nationwide survey of 1000 households. As a WTP elicitation method, the one-and-one-half-bounded question format of asking an interviewee whether she/he has the intention of paying a presented bid through annual income tax was adopted. The WTP for the designation was statistically significantly estimated to be KRW 2665 (USD 2.27) per year per household. The estimate of the annual national value amounted to KRW 53 billion (USD 45.30 million). This value is by no means small, but it would take a huge amount of effort to elicit public consensus on the designation considering that a significant proportion of respondents (64.4%) revealed zero WTP.
Ju-Hee Kim; Seung-Hoon Yoo. What do we know about public acceptance of designating marine protected area? The case of Jaran Bay in South Korea. Environmental Science and Pollution Research 2020, 27, 31715 -31725.
AMA StyleJu-Hee Kim, Seung-Hoon Yoo. What do we know about public acceptance of designating marine protected area? The case of Jaran Bay in South Korea. Environmental Science and Pollution Research. 2020; 27 (25):31715-31725.
Chicago/Turabian StyleJu-Hee Kim; Seung-Hoon Yoo. 2020. "What do we know about public acceptance of designating marine protected area? The case of Jaran Bay in South Korea." Environmental Science and Pollution Research 27, no. 25: 31715-31725.
In South Korea, the finless porpoise (FP) is one of representative endangered marine species. The country is trying to manage and protect FPs through several costly measures and demands information about what value the public puts on the management and protection. This article, therefore, explores the South Korean public perspective on managing and protecting FP using a contingent valuation (CV) technique. More specifically, the data on the public willingness to pay (WTP) for the management and protection were collected from a CV survey of 1000 households across the country, adopting a dichotomous choice question format. The household yearly WTP for the management and protection was estimated, with statistical significance, to be 2730 KRW (2.32 USD). If this value is expanded to all households in South Korea, the national value amounts to 54.19 billion KRW (46.00 million USD) per annum. This can be interpreted as the economic value or benefit of managing and protecting FP.
Ju-Hee Kim; Joseph Kim; Seung-Hoon Yoo. What Value Does the Public Put on Managing and Protecting an Endangered Marine Species? The Case of the Finless Porpoise in South Korea. Sustainability 2020, 12, 4505 .
AMA StyleJu-Hee Kim, Joseph Kim, Seung-Hoon Yoo. What Value Does the Public Put on Managing and Protecting an Endangered Marine Species? The Case of the Finless Porpoise in South Korea. Sustainability. 2020; 12 (11):4505.
Chicago/Turabian StyleJu-Hee Kim; Joseph Kim; Seung-Hoon Yoo. 2020. "What Value Does the Public Put on Managing and Protecting an Endangered Marine Species? The Case of the Finless Porpoise in South Korea." Sustainability 12, no. 11: 4505.
The loggerhead turtle is one of the representative endangered marine species in South Korea. Thus, the country’s government is trying to push ahead with a project to increase the number of loggerhead turtles through the research and development of technology to hatch them artificially and release them into the wild. This article attempts to investigate the public perspective on the project using contingent valuation (CV). To this end, a CV survey of one thousand households across the country was implemented using in-person interviews. They were asked whether they were willing to pay a specified amount presented for carrying out the project. As many households reported zero willingness to pay, a spike model was employed to analyze the response data. It was found that the yearly public value ensuing from accomplishing the project was statistically significantly computed to be KRW 2360 (USD 1.99) per household. When the value was expanded nationwide, it reached KRW 44.72 billion (USD 37.74 million) per year. This public value could be compared with the cost of carrying out the project to determine if the project is socially beneficial.
Ju-Hee Kim; Kyung-Ran Choi; Seung-Hoon Yoo. Public Perspective on Increasing the Numbers of an Endangered Species, Loggerhead Turtles in South Korea: A Contingent Valuation. Sustainability 2020, 12, 3835 .
AMA StyleJu-Hee Kim, Kyung-Ran Choi, Seung-Hoon Yoo. Public Perspective on Increasing the Numbers of an Endangered Species, Loggerhead Turtles in South Korea: A Contingent Valuation. Sustainability. 2020; 12 (9):3835.
Chicago/Turabian StyleJu-Hee Kim; Kyung-Ran Choi; Seung-Hoon Yoo. 2020. "Public Perspective on Increasing the Numbers of an Endangered Species, Loggerhead Turtles in South Korea: A Contingent Valuation." Sustainability 12, no. 9: 3835.