Ocean and Polar Research

Korea Institute of Ocean Science & Technology (한국해양과학기술원)
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The Economic Feasibility Analysis of Grow out Phase Production of Oyster Farming by Rising Water Temperature

기후변화로 인한 수온상승이 굴양식 본양성 생산방식의 경제성에 미치는 영향분석

  • Choi, Jong Du (Department of Business Administration, School of Business Administration, Cyber University of Korea) ;
  • Choi, Young Jun (Department of International Business and Trade Administration, College of Politics and Economics Kyung Hee University)
  • 최종두 (고려사이버대학교 경영학부 경영학과) ;
  • 최영준 (경희대학교 정경대학 무역학과)
  • Received : 2014.04.28
  • Accepted : 2014.06.13
  • Published : 2014.06.30
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Abstract

This study analysed the economic feasibility per hectare of grow out phase production of Oyster farming by rising water temperature in Ocean. Elevated Water temperature by climate change had a bad influence for oyster production and economic feasibility. In the case of production units, the total output of oyster decreases from 213,840 to 205,594 units. Using cost-benefit analysis with discounting rates (5.5%), we estimated the net present value (NPV) and benefit cost ratio (BCR) until 2100 years. The model results showed that the NPV without water temperature rise was 1,565,619,893 won and the NPV with water temperature rise was 1,540,493,059 won. Also, BCR estimated that the former was 2.095 better than the latter was 2.077. To summarise, the economic effect per hectare of water temperature rise in ocean did the damage to the economic loss about 25,126,834 won.

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