The purpose of this study is to estimate the production function of the oliver flounder (Paralichthys olivaceus) aquaculture industry, analyze its efficiency, and provide implications for sustainable aquaculture. For this purpose, the SFA model was utilized. The results of this study are as follows. First, the coefficient values of labor wages and farm area are higher than other inputs. This suggests that the Korean oliver flounder aquaculture industry is labor-intensive. Second, disease management is highly influenced by management efficiency. The more frequently farms are disinfected and culled, the higher the management efficiency with culling having a greater impact on management efficiency. Finally, the cost inputs of high and low-efficiency fish farms were analyzed, and it is recommended that wages, electricity, drugs, and oxygen should be kept at a reasonable level rather than excessive. However, the higher the inputs for mortality removal and disease management, the higher the management efficiency. In other words, improving the farm environment is the most important to achieve sustainability and management efficiency of Korean oliver flounder farming.

Abstract
Ⅰ. 서 론
Ⅱ. 분석모형
    1. SFA 모형
    2. Cobb–Douglas 생산함수
    3. 자료 분석
Ⅲ. 분석결과
    1. SFA 분석 결과
    2. 비효율성 결정요인 분석
    3. 생산효율성 비교
Ⅳ. 결 론
REFERENCES

• 김은지(한국해양수산개발원 연구원) | Eun-Ji KIM (Researcher, Korea Maritime Institute, Busan, 49111, Rep. of Korea)
• 조헌주(한국해양수산개발원 전문연구원) | Heon-Ju JO (Senior Researcher, Korea Maritime Institute, Busan, 49111, Rep. of Korea) Corresponding author