The Journal of Fisheries Business Administration (수산경영론집)

The Korean Society of Fisheries Business Administration (한국수산경영학회)
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A Study on the Economic Effectiveness of the Artificial Fish Reef Project in the Tae-an Marine Ranching

태안시범바다목장해역내 인공어초사업의 경제적 효과에 대한 연구

  • Choi, Jong-Du (Department of Business Administration, Cyber University of Korea)
  • 최종두 (고려사이버대학교 경영학과)
  • Received : 2013.11.28
  • Accepted : 2013.12.13
  • Published : 2013.12.31
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Abstract

This paper analyzed that the economic effectiveness of the artificial fish reef project in the Tae-an Marine Ranching. Benefit-cost(B/C) model used to indicate the effects of economic valuation. B/C model is based on the sub-models which are Benefit Cost Ratio(BCR), Net Present Value(NPV) and Internal Ration of Return(IRR). First, the Sum of Incremental Benefit and Cost for total vessel by year in Artificial Fish Reef Area(AFRA) estimated 2,381 million won. And then, using 5.5% discounting rates and the survey data, the sub-models showed economically feasible in the all of analysis and analyzed the results as follows. BCR is 2.66, NPV is 28,014million won, and IRR is 22.78%. In conclusion, these results indicated that the artificial fish reef project in Tae-an Marine Ranching would be increase the income of fishermen as well as fish biomass.

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References

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