Abstract
The loggerhead turtle is one of the representative endangered marine species in South Korea. Thus, the country’s government is trying to push ahead with a project to increase the number of loggerhead turtles through the research and development of technology to hatch them artificially and release them into the wild. This article attempts to investigate the public perspective on the project using contingent valuation (CV). To this end, a CV survey of one thousand households across the country was implemented using in-person interviews. They were asked whether they were willing to pay a specified amount presented for carrying out the project. As many households reported zero willingness to pay, a spike model was employed to analyze the response data. It was found that the yearly public value ensuing from accomplishing the project was statistically significantly computed to be KRW 2360 (USD 1.99) per household. When the value was expanded nationwide, it reached KRW 44.72 billion (USD 37.74 million) per year. This public value could be compared with the cost of carrying out the project to determine if the project is socially beneficial.
Highlights
Biodiversity is a major factor for assessing ecosystem health
The South Korean government designated 77 endangered marine species to preserve the biodiversity of marine ecosystems, and the loggerhead turtle was one of them
This study intended to measure the public value of increasing the population of loggerhead turtle by applying a nationwide contingent valuation (CV) survey of 1000 South Korean households
Summary
Biodiversity is a major factor for assessing ecosystem health. The ocean, which occupies 71% of the Earth’s surface area, is the largest living habitat. It is important to identify various marine species and preserve endangered species. In South Korea, to preserve the biodiversity of the marine ecosystem, the Korean Ministry of Oceans and Fisheries enacted the Act on Conservation and Management of Marine Ecosystems and designated seventy-seven endangered marine species in 2006 [1]. The current International Union for Conservation of Nature and Natural Resources Red List classifies four species, the Hawksbill turtle, the Kemp’s ridley turtle, the green turtle, and the loggerhead turtle (Caretta caretta), as critically endangered group [2]. The loggerhead turtle is one of the endangered marine species, but is on the Appendix I list of the Convention on International Trade in Endangered Species of Wild Fauna and Flora [3]
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