This study aims to assess the economic value of establishing a smart aquaculture education infrastructure through contingent valuation methods(CVM). The researcher conducted an online survey with a structured questionnaire targeting a diverse group of...
This study aims to assess the economic value of establishing a smart aquaculture education infrastructure through contingent valuation methods(CVM). The researcher conducted an online survey with a structured questionnaire targeting a diverse group of 1,000 adults across the nation to investigate their willingness to pay(WTP) for the policy and to understand their levels of support. Respondents were asked to detail their reasons for supporting or not supporting the education project. Research findings reveal that 50.6% of the participants supported the establishing the smart aquaculture education infrastructure, with the annual WTP per household calculated at KRW 17,315. When adjusted for average household WTP was KRW 8,554. Utilizing the Future Household Estimates, the present study projected the projects economic value over the next five years, estimating it at KRW 953.3 billion.