The Korean government has been carrying out the marine ranch development project since 1998 with the purpose of responding to the decrease in coastal fishery resources and fishery income, preparing a systematic management system for the sustainable use of fishery resources and realizing advanced fisheries power by expanding and upgrading fisheries resource development projects. In addition, the government established the Korea Fisheries Resources Agency and promoted projects for the protection and management of fishery resources by increasing basic productivity by artificially creating marine forests in areas where whitening events occur. Since the project of building marine ranches and marine forests requires immense government financial support, it is important to estimate the economic value and thoroughly evaluate the feasibility of the project. In this paper, the project of non-market economic value of the development of marine ranches and the development of marine forests was estimated. CVM (Contingent Valuation Method) was applied as a methodology for benefits estimation. Prior to the analysis, a one-on-one interview survey was conducted with participation of 512 residents and 514 residents respectively for the project of creating a marine ranch and developing a marine forest. A DBDC (Double-Bounded Dichotumous Choice) model was applied in the WTP (Willingness To Pay) analysis model and the socioeconomic variables of the surveyor, such as sex, age, education and income, were reflected in the model. The economic benefits from the two projects, namely, building of marine ranches and developing marine forests were estimated to be equal to 4,608 won and 7,772 won per household per year, respectively. According to the results of the survey, it seems that respondents think that marine forests are more valuable than marine ranches. This is as a result of ordinary citizens’ thought that the marine ranches are more cost-effective than the marine forests. The benefits estimated through this study can be used for analysis of economic feasibility prior to carrying out the project of building marine ranches and developing marine forests, and are considered to be the valuable for policy-making purposes and finding social and economic consensus.

Abstract
I. 서 론
    1. 연구의 목적
    2. 연구의 내용과 방법
Ⅱ. 선행연구
Ⅲ. 연구방법론
    1. 조건부가치측정법(CVM) 개요
Ⅳ. 실증분석 : 비시장가치 추정
    1. 설문의 방법 및 내용
    2. 추정 결과
Ⅴ. 요약 및 결론
REFERENCES

• 김순미(전남대학교 교통물류학과 박사과정) | Soon-Mi Kim (Department of Logistics and Transportation, Chonnam National University)
• 소애림(전남대학교 교통물류학과 박사과정) | Ae-Rim So (Graduate Student, Department of Logistics and Transportation, Chonnam National University)
• 신승식(전남대학교 물류통상학부) | Seung-Sik Shin (Department of Logistics and International Trade, Chonnam National University) Corresponding author