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Article

Data-Based Analysis on the Economic Value of Fishery Observer Programs in International Fisheries Management: Insights from Korea’s Distant Water Fisheries

by
Yeon-Gyeong Kim
1,
Dong-Hun Go
2 and
Sangchoul Yi
1,*
1
Department of Marine & Fisheries Business and Economics, Pukyong National University, Busan 48513, Republic of Korea
2
Korea Maritime Institute, Busan 49111, Republic of Korea
*
Author to whom correspondence should be addressed.
Water 2025, 17(1), 133; https://doi.org/10.3390/w17010133
Submission received: 27 November 2024 / Revised: 29 December 2024 / Accepted: 5 January 2025 / Published: 6 January 2025
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Abstract

This study estimated the economic value of international fisheries observer programs for Korean distant water fisheries using the contingent valuation method (CVM). The model included economic factors, socio-demographic variables, and proxy variables that reflected participants’ familiarity with seafood consumption. An online survey was conducted with 16,924 participants, of whom 1000 provided usable responses (resulting in a final response rate of 5.9%). The survey results indicated that 74.2% of households were willing to pay to support international fisheries observer programs. The weighted average willingness to pay (WTP), adjusted for the participation rate, was estimated at USD 7.01 per household, leading to an annual aggregated WTP of USD 153,097,825. These findings highlight the significance of international fisheries observer programs in promoting the sustainability and effective management of Korean distant water fisheries.
Keywords: contingent valuation method (CVM); international fisheries observer programs; Korean distant water fisheries; survey-based data contingent valuation method (CVM); international fisheries observer programs; Korean distant water fisheries; survey-based data

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MDPI and ACS Style

Kim, Y.-G.; Go, D.-H.; Yi, S. Data-Based Analysis on the Economic Value of Fishery Observer Programs in International Fisheries Management: Insights from Korea’s Distant Water Fisheries. Water 2025, 17, 133. https://doi.org/10.3390/w17010133

AMA Style

Kim Y-G, Go D-H, Yi S. Data-Based Analysis on the Economic Value of Fishery Observer Programs in International Fisheries Management: Insights from Korea’s Distant Water Fisheries. Water. 2025; 17(1):133. https://doi.org/10.3390/w17010133

Chicago/Turabian Style

Kim, Yeon-Gyeong, Dong-Hun Go, and Sangchoul Yi. 2025. "Data-Based Analysis on the Economic Value of Fishery Observer Programs in International Fisheries Management: Insights from Korea’s Distant Water Fisheries" Water 17, no. 1: 133. https://doi.org/10.3390/w17010133

APA Style

Kim, Y.-G., Go, D.-H., & Yi, S. (2025). Data-Based Analysis on the Economic Value of Fishery Observer Programs in International Fisheries Management: Insights from Korea’s Distant Water Fisheries. Water, 17(1), 133. https://doi.org/10.3390/w17010133

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