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IJESD 2017 Vol.8(12): 815-818 ISSN: 2010-0264
doi: 10.18178/ijesd.2017.8.12.1063
doi: 10.18178/ijesd.2017.8.12.1063
Assessment of Economic Value of Ecosystem Service by Using InVEST Model in South Korea
Choi Ji Young and Lee Sang Don
Abstract—This study aims to estimate the economic value of
natural assets through carbon fixation estimation of ecosystem
services in Korea. Based on InVEST model, this study evaluated
the amount of carbon fixation and economic values of carbon
fixation in Korea for a period spanning 1980-2000.
As a result, Economic values assessed by applying carbon transaction prices and Korea’s carbon trade discount. Between 1980 and 1990, the economic value of the ecosystem service lost in Korea was 268,380,000 dollars and the decrease of the amount of carbon fixation by 25,770,000 tons between 1990 and 2000 corresponded to the economic loss of 268,380,000 dollars.
Therefore, this research should be utilized in the process of the national development policies for the sustainable development and biodiversity maintenance. Also, It can be regarded as the support to make a development decision of policies through quantification the assessment results and estimation the economic values of ecosystems.
Index Terms—Biodiversity, ecosystem services, InVEST model, economic value assessment.
Choi Ji Young is with the Department of Environmental Science and Engineering, Ewha Womans University, Seoul, 120-750, Korea (e-mail: 01052201106@hanmail.net).
Lee Sang Don was with the Department of Environmental Science and Engineering, Ewha Womans University, Seoul, 120-750, Korea (e-mail: lsd@ewha.ac.kr).
As a result, Economic values assessed by applying carbon transaction prices and Korea’s carbon trade discount. Between 1980 and 1990, the economic value of the ecosystem service lost in Korea was 268,380,000 dollars and the decrease of the amount of carbon fixation by 25,770,000 tons between 1990 and 2000 corresponded to the economic loss of 268,380,000 dollars.
Therefore, this research should be utilized in the process of the national development policies for the sustainable development and biodiversity maintenance. Also, It can be regarded as the support to make a development decision of policies through quantification the assessment results and estimation the economic values of ecosystems.
Index Terms—Biodiversity, ecosystem services, InVEST model, economic value assessment.
Choi Ji Young is with the Department of Environmental Science and Engineering, Ewha Womans University, Seoul, 120-750, Korea (e-mail: 01052201106@hanmail.net).
Lee Sang Don was with the Department of Environmental Science and Engineering, Ewha Womans University, Seoul, 120-750, Korea (e-mail: lsd@ewha.ac.kr).
Cite: Choi Ji Young and Lee Sang Don, "Assessment of Economic Value of Ecosystem Service by Using InVEST Model in South Korea," International Journal of Environmental Science and Development vol. 8, no. 12, pp. 815-818, 2017.
