An Estimation of the Economic Value of Jangja Island Marine Fishing Park using CVM

Jangja Island marine fishing park was expected to contribute to revitalizing local tourism as a marine leisure experience infrastructure, but it is difficult to open due to problems such as the selection process of consignees, various experiences, and a lack of convenience facilities. Therefore, in this study, the CVM (Contingent Valuation Method) was used to estimate the value of payment for usage fees to find specific ways to secure financial resources for the marine fishing park. However, since this method can overestimate the respondents' willingness to pay, a two-step approach was used to verify the veracity of the response by designing hypothetical and real situations. As a result of the study, the use value of the marine fishing park was estimated at 14,075 won. The results of this study can be a useful reference for preparing measures to secure financial resources necessary for the operation of the marine fishing park in the future.