The importance of incorporating environmental values in the decision-making process has increased in Korea. Accordingly, the main purpose of this project is to construct an on-line database for environmental valuation studies conducted in Korea and assist related policy assessments by providing comprehensive information on environmental valuation. The specific objectives of this three-year project are to: 1) provide classifications on environmental assets/services, 2) design and construct an on-line environmental valuation database, and 3) apply meta-regression analysis to previous empirical studies with enough accumulated data to derive implications regarding policy assessments.

In 2009, a classification system on environmental assets/services in the Korean context was devised and presented, and the basic framework of the on-line database was completed. Subsequently in 2010, input and output modules of the DB were standardized and improved. After a test run, the Environmental Valuation Information System (EVIS) was finally launched in 2011 for a public service through the homepage of Korea Environment Institute (KEI). As of October 31, 2011, a total of 339 valuation studies conducted in Korea were summarized in the EVIS.

Preliminary meta-regression analyses were performed on six sectors which had enough observations, namely water quality, wetlands, inland water, recreation, forests, and parks. In considering the results from these analyses, the explanatory powers of independent variables and related statistical significances in general are rather low, except for the wa