Determining economically viable forest management option with consideration of ecosystem services in Korea: A strategy after successful national forestation

Jongyeol Lee, Hyungsub Kim, Cholho Song, Gang Sun Kim, Woo-Kyun Lee and Yowhan Son

Ecosystem Services, 2020, vol. 41, issue C

Abstract: Economic assessment of forest management, including tending, thinning, and clear-cut, is essential to maximize social benefits. This study investigated the economic viability of forest management in the Republic of Korea at national scale (2017–2100) by quantitative approaches. The changes in benefits of four ecosystem services (timber production, CO2 sequestration, water yield enhancement, and disaster risk reduction) and management cost were quantified by a combination of ecosystem models and national data. The forest management scenarios, varying interval of clear-cut (40–80 years) and area of management (0.9–3.0 million ha), were applied. Net present value (NPV) was estimated as an indicator of economic viability of forest management. The NPV increased with decreasing clear-cut interval and increasing management area (7.7–50.8 billion $). Even the benefit-cost ratio (BCR), the ratio of total benefit to total cost in terms of present value, was 1.9 under the most intensive forest management scenario. This result implied that intensive forest management is economically viable in the long-term. The sensitive analysis showed that economic viability would be maintained in spite of change in macroeconomic factor. These methodological approach and result would contribute to implementing effective forest management, which can maximize social benefits.

Keywords: Ecosystem service; Forest management; Quantitative assessment; Economic viability (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S2212041619306643
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:ecoser:v:41:y:2020:i:c:s2212041619306643

DOI: 10.1016/j.ecoser.2019.101053

Access Statistics for this article

Ecosystem Services is currently edited by Leon C Braat

More articles in Ecosystem Services from Elsevier
Bibliographic data for series maintained by Catherine Liu ().