Economic viability of the national-scale forestation program: The case of success in the Republic of Korea

Jongyeol Lee, Chul Hee Lim, Gang Sun Kim, Anil Markandya, Sarwat Chowdhury, Sea Jin Kim, Woo-Kyun Lee, Yo Whan Son

Research output: Contribution to journalArticle

12 Citations (Scopus)

Abstract

The forests in the Republic of Korea (ROK) successfully recovered through the national forestation program as did the ecosystem services associated with them. With this positive experience, it is instructive to investigate the economic viability of the forestation program. In this study, we estimated the changes in the key ecosystem services (disaster risk reduction (DRR), carbon sequestration, water yield enhancement, and soil erosion control; 1971–2010) and the monetary investment of the forestation (1960–2010) in the ROK, at a national scale. These benefits and costs were estimated by biophysical and monetary approaches, using statistical data from several public organizations, including the Korea Forest Service and the Korea Meteorological Administration, combined with model simulation. All monetary values were converted to the present value in 2010. The net present value and the benefit-cost ratio of the forestation program were 54,316 million $ and 5.84 in 2010, respectively, in the long-term. The break-even point of the extensive investment on the forestation appeared within two decades. In particular, the enhancements of DRR and carbon sequestration were substantial. This economic viability was ensured by the subsidiary implementations (e.g., participation of villagers, shifting energy source, and administrative regulation). Early and extensive investment in forestation is recommended for economic viability and successful implementation of the program. Our study is expected to provide a scientific rationale for implementing forestation program in other countries.

Original languageEnglish
Pages (from-to)40-46
Number of pages7
JournalEcosystem Services
Volume29
DOIs
Publication statusPublished - 2018 Feb 1

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economic sustainability
Republic of Korea
South Korea
Carbon Sequestration
Korea
republic
risk reduction
Economics
disasters
Disasters
Risk Reduction Behavior
carbon sequestration
ecosystem services
Cost-Benefit Analysis
Korean Peninsula
Ecosystem
economics
ecosystem service
erosion control
disaster

Keywords

  • Carbon sequestration
  • Disaster risk reduction
  • Economic viability
  • National forestation
  • Soil erosion
  • Water yield

ASJC Scopus subject areas

  • Global and Planetary Change
  • Geography, Planning and Development
  • Ecology
  • Agricultural and Biological Sciences (miscellaneous)
  • Nature and Landscape Conservation
  • Management, Monitoring, Policy and Law

Cite this

Economic viability of the national-scale forestation program : The case of success in the Republic of Korea. / Lee, Jongyeol; Lim, Chul Hee; Kim, Gang Sun; Markandya, Anil; Chowdhury, Sarwat; Kim, Sea Jin; Lee, Woo-Kyun; Son, Yo Whan.

In: Ecosystem Services, Vol. 29, 01.02.2018, p. 40-46.

Research output: Contribution to journalArticle

Lee, Jongyeol ; Lim, Chul Hee ; Kim, Gang Sun ; Markandya, Anil ; Chowdhury, Sarwat ; Kim, Sea Jin ; Lee, Woo-Kyun ; Son, Yo Whan. / Economic viability of the national-scale forestation program : The case of success in the Republic of Korea. In: Ecosystem Services. 2018 ; Vol. 29. pp. 40-46.
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