There has been considerable interest in the impact of large-scale development projects on the environment. Fortunately, Korea has environment-friendly polic tools and procedures in large-scale development projects like "Preliminary Feasibility Studies(PFS)", "Preliminary Environmental Impact Assessment(Pre-EIA)", "Environmental Impact Assessment(EIA)". Pre-EIA and EIA reports that are reviewed by the Korea Environment Institute(KEI) focus on the qualitative impact of development projects on the environment. The Public Investment Management Center (PIMA) at the Korea Development Institute (KDI) performs PFS using the methods of project evaluation technique including cost-benefit analysis and multi-criteria analysis which is popular tool in the feasibility analysis.
However, the value of environmental assets and the cost of environmental damages have not been quantified in the economic feasibility analysis including PFS. This study was committed to overcome this limitation.
In chpater 2, the various environmental services and damage costs are investigated and summarized via domestic and foreign literature review. In chapter 3, the present conditions and procedures of Pre-EIA and EIA that evaluate the impact of environmental quality were explained. Also, several examples of Pre-EIA and EIA were introduced. In chapter 4, the present conditions and procedures of PFS that aims to maximize economic productivity by selecting large-scale public investment projects based on priority in a transparent and objective way were presented. In addition, Several examples of PFS