The waste-to-energy (WTE) industry draws global attention by using wastes as energy resources. Korean government is very inclined to invest in the WTE industry. Therefore, it is believed that there will be an industrial scale-up. Also it is needed to make proper strategies for promoting the industry by creating the added value of related companies. This study analyzes whether the value-added structure of Korean WTE industry exhibits a virtuous cycle through the value chain (VC) within related companies by using a regression analysis based on a survey to Korean WTE companies. As a result, the government’s R&D support is analysed not to contribute to an increase in the R&D investments of the WTE companies. Also an increase in corporates’ R&D investments does not lead to an increase in corporates’ R&D outputs. An increase in corporates’ R&D outputs, however, has the positive influence on an increase in production. In contrast, an increase in production does not have an effect on a decrease in production costs. And a decrease in production costs does not lead to an increase in profit rates per sales. In addition, it is shown that an increase in profit rates per sales does not contribute to an increase in production and R&D investments. Therefore, it is estimated that the Korean WTE companies do not organize the virtuous cycle of the VC yet. This study has a policy implication to need further efforts to create the virtuous cycle in the VC of Korean WTE industry.

Abstract
 I. 서 론
 II. 선행연구
  1. 부가가치사슬(Value Chain)
  2. 폐자원에너지산업의 VC
 III. 분석방법
  1. VC 분석방법과 가설설정
  2. 자료와 분석방법론
 IV. 분석결과
  1. 설문조사 결과
  2. VC 분석결과
 V. 결 론
 사 사
 References

• 김근우(서울과학기술대학교 에너지정책학과) | Geun U Kim
• 진보영(서울과학기술대학교 에너지정책학과) | Bo Young Jin
• 박중구(서울과학기술대학교 에너지정책학과) | Jung Gu Park Corresponding author