The information on the economic value of industrial water use is widely demanded in policy analysis area as well as academic research area. Therefore, this study attempts to obtain more accurate economic value of industrial water use using the economic theory. To this end, we conducted a survey of 1,017 manufacturing firms and estimated the economic value of industrial water use based on the concept of value of marginal product(VMP). Moreover, this study tried to estimate the VMP of three industrial water types, river water, precipitated water, and purified water. The results show that the VMPs of river water, precipitated water and purified water are estimated to be 769.24won/m3, 896.76 won/m3 and 1,861.95 won/ m3, respectively. The value for the precipitated water found in this study is not significantly different from that(885.1won/m3) used in the pre-feasibility test implemented by Korea Development Institute(KDI). These imply that the latter is appropriate for evaluating the economic benefit of supplying industrial water, though it is based on 2003 Industry Survey.
The information on the economic value of industrial water use is widely demanded in policy analysis area as well as academic research area. Therefore, this study attempts to obtain more accurate economic value of industrial water use using the economic theory. To this end, we conducted a survey of 1,017 manufacturing firms and estimated the economic value of industrial water use based on the concept of value of marginal product(VMP). Moreover, this study tried to estimate the VMP of three industrial water types, river water, precipitated water, and purified water. The results show that the VMPs of river water, precipitated water and purified water are estimated to be 769.24won/m3, 896.76 won/m3 and 1,861.95 won/ m3, respectively. The value for the precipitated water found in this study is not significantly different from that(885.1won/m3) used in the pre-feasibility test implemented by Korea Development Institute(KDI). These imply that the latter is appropriate for evaluating the economic benefit of supplying industrial water, though it is based on 2003 Industry Survey.
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