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Estimating the Public's Value for Urban Forest in the Seoul Metropolitan Area of Korea: A Contingent Valuation Study

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  • Seung-Jun Kwak

    (Department of Economics, Korea University, 5-1 Anam-Dong, Sungbuk-Ku, Seoul, 136-701, Korea, sjkwak@korea.ac.kr.)

  • Seung-Hoon Yoo

    (School of Economics and Business, Hoseo University, 268 Ansea-Dong, Cheonan, Chungnam, 330-180, shyoo @office. hoseo. ac.kr.)

  • Sang-Yong Han

    (Department of Economics, Korea University, 5-1 Anam-Dong, Sungbuk-Ku, Seoul, 136-701, Korea, Korea, hansy@korea.ac.kr.)

Abstract

Urban forests have various environmental benefits that contribute to the quality of urban life. These values, however, have been underestimated or have never been reflected in urban development planning in Korea. As a result, a number of forests in urban areas were either partly or wholly destroyed without their public's value being assessed explicitly. The objective of this paper is to estimate the value attached by the public to Kwanggyo Mountain in the Seoul Metropolitan Area of Korea using a contingent valuation survey, aimed at providing policy-makers with useful information to make an informed public decision in urban development planning. The survey was carefully designed and implemented to meet a number of recommendation rules suggested in the literature. The overall results show that the respondents received the hypothetical scenario well and would be willing to pay a significant amount for the proposed programme of conserving the mountain. The total value stated by the public amounted to approximately 3.77 billion Korean won (US$2.9 million) per year. This quantitative information can be used in policy-making process for urban development plans.

Suggested Citation

  • Seung-Jun Kwak & Seung-Hoon Yoo & Sang-Yong Han, 2003. "Estimating the Public's Value for Urban Forest in the Seoul Metropolitan Area of Korea: A Contingent Valuation Study," Urban Studies, Urban Studies Journal Limited, vol. 40(11), pages 2207-2221, October.
    • Handle: RePEc:sae:urbstu:v:40:y:2003:i:11:p:2207-2221
    DOI: 10.1080/0042098032000123259
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    References listed on IDEAS

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    2. Yiyi Chen & Colin A. Jones & Neil A. Dunse & Enquan Li & Ye Liu, 2023. "Housing Prices and the Characteristics of Nearby Green Space: Does Landscape Pattern Index Matter? Evidence from Metropolitan Area," Land, MDPI, vol. 12(2), pages 1-17, February.
    3. Voltaire, Louinord, 2012. "Effet d’une taxe et d’un droit d’entrée sur les consentements à payer des touristes pour de nouvelles réserves naturelles dans le golfe du Morbihan," Revue d'Etudes en Agriculture et Environnement, Editions NecPlus, vol. 92(02), pages 183-209, October.
    4. Bockarjova, Marija & Botzen, Wouter J.W. & Koetse, Mark J., 2020. "Economic valuation of green and blue nature in cities: A meta-analysis," Ecological Economics, Elsevier, vol. 169(C).
    5. Thomas Treiman & Justine Gartner, 2006. "Are Residents Willing to Pay for their Community Forests? Results of a Contingent Valuation Survey in Missouri, USA," Urban Studies, Urban Studies Journal Limited, vol. 43(9), pages 1537-1547, August.
    6. Ojea, Elena & Loureiro, Maria L., 2011. "Identifying the scope effect on a meta-analysis of biodiversity valuation studies," Resource and Energy Economics, Elsevier, vol. 33(3), pages 706-724, September.
    7. Denise L. Stanley, 2005. "Local Perception of Public Goods: Recent Assessments of Willingness‐to‐pay for Endangered Species," Contemporary Economic Policy, Western Economic Association International, vol. 23(2), pages 165-179, April.
    8. Louinord Voltaire & Abdelhak Nassiri & Denis Bailly & Jean Boncoeur, 2011. "Effet d’une taxe et d’un droit d’entrée sur les consentements à payer des touristes pour de nouvelles réserves naturelles dans le golfe du Morbihan," Review of Agricultural and Environmental Studies - Revue d'Etudes en Agriculture et Environnement, INRA Department of Economics, vol. 92(2), pages 183-209.
    9. Barrio, Melina & Loureiro, Maria L., 2010. "A meta-analysis of contingent valuation forest studies," Ecological Economics, Elsevier, vol. 69(5), pages 1023-1030, March.
    10. Sandra Rousseau & Nick Deschacht, 2020. "Public Awareness of Nature and the Environment During the COVID-19 Crisis," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 76(4), pages 1149-1159, August.
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