PURPOSES: The aim of this study is to analyze economic effect of bike-sharing after its introduction in Korea. METHODS: This study reviews current bike-sharing situations in Korea and other nations. We conduct surveys on bike-sharing system's bike usage patterns and economic benefits in Changwon and Goyang cities where public bikes are the most popular in the nation. Economic benefits are itemized after reviewing relevant previous studies. Then, the survey is implemented using the Contingent Valuation Method (CVM). Then estimated benefit is compared to the cost which is necessary for bike-sharing introduction and operation. RESULTS: Using the average WTP per household, the total economic benefit of bike-sharing is estimated as much as 1.75 billion KRW to 3.75 billion KRW in Goyang and Changwon city. Using estimated benefit, economic effect of bike-sharing are calculated as 0.69 and 1.00, respectively. CONCLUSIONS : The result of this study shows bike-sharing could be useful economic policy in Korea. However, economic effect of bike-sharing differs by city. Keywords bike-sharing, public bicycle system, NUBIJA, Fifteen, economic analysis