The paper presents a case of PIMFY-ism concerning the introduction of wind turbines into a local place. Our observation made for Jeju Island (South Korea) contrasts tothe previous findings that report local resistance to wind turbine construction. The island has been a mecca for wind farm construction for the last decade in Korea. The island’s plenty of wind was a challenge to islander’s livelihood activities in the past but it has now turned to be an economicsource for supporting villagers through compensation arrangements. By highlighting two case studies, we made it clear social process by which wind turbine construction projects were negotiated and implemented. Our study pointed to the significanc of an economic situation of a local place in shaping local attitudes to wind energy investment.

Crop yield insurance program in Korea has rapidly grown not only in quantity but in quality for 15 years since it was introduced in 2001. Despite growth of Crop insurance, performance evaluation for crop yield insurance has not fully been evaluated at the farm, consumer and national level. The purpose of this study is to conduct the performance evaluation for crop yield insurance through estimating the effects of farm revenue stabilization and social welfare increase with three popular insurance items: apple, pear and sweet persimmon. Based on the analysis of social welfare effect, cost-benefit analysis of operating crop yield insurance was conducted at the national level. We found that crop yield insurance stabilizes farm revenue based on the estimated four risk indicators: Coefficient of Variation, Value at Risk, Certainty Equivalence, and Risk Premium. The result of cost-benefit analysis shows that crop yield insurance increases social net benefit by 44.1 billion won for the three items. As a result, crop yield insurance program has contributed remarkably on social welfare as well as farm management and its role will be more important in the future.