Measuring the conservation value of lagoons: The case of Songji lagoon

In recent days, most of the lagoons in Korea have been lost on account of indiscreet development and pollution. Thus, this study measures the conservation value of the Songji lagoon, a representative lagoon in Korea by using the contingent valuation (CV) method and specifies the non-use value of Songji lagoon. The survey was carefully designed and implemented to meet a number of recommendation rules suggested in the literature. The overall results show that the respondents well accepted the contingent market and would be willing to pay a significant amount for the proposed program to conserve Songji lagoon. Total Conservation value of Songji lagoon amounted to approximately 21.2 billion Korean won per year. Moreover, the non-use value of Songji lagoon amounted 15.7 billion Korean won per year. The results of measuring the conservation value provide decision-makers with data indispensable to devising a conservation and management policy.