Sejong Arboretum Economic Value Appraised at 564.4 Billion Won

The economic value of the National Sejong Arboretum has been evaluated at 564.4 billion KRW.

The Korea Arboretum and Garden Management Authority (hereinafter referred to as KAGMA) announced on the 6th that it derived this result by jointly measuring the economic value of the Sejong Arboretum with Professor Han Sang-yeol's team from Kyungpook National University.

National Sejong Arboretum Four Seasons Exhibition Greenhouse Exterior. Provided by Korea Arboretum and Garden Management Authority

The measurement results analyzed that the Sejong Arboretum holds an economic value of 39.49 billion KRW as a recreational space provided to visitors, 6.63 billion KRW in the area of regional coexistence, 1.59 billion KRW in education, and 1.03 billion KRW in science.

Additionally, KAGMA explained that when the non-use values, which represent the environmental and emotional values provided to the public and the value of conserving forest biological resources, are converted into economic value and added, the total economic value of the Sejong Arboretum increases to 515.71 billion KRW.

Above all, this survey also confirmed that the operation of the Sejong Arboretum has a very significant ripple effect on the national economy.

The economic ripple effects of the Sejong Arboretum were identified as ▲production inducement effect of 74.9 billion KRW ▲income inducement effect of 13 billion KRW ▲value-added inducement effect of 28.6 billion KRW ▲employment inducement effect of 545 people.

Shin Chang-ho, director of the Sejong Arboretum, said, “The Sejong Arboretum has established itself not simply as a space for preserving nature but as an important public asset that practically contributes to the regional and national economy. We will continue to strive to ensure that the diverse values provided by the Sejong Arboretum are evenly delivered to the public and that the necessity of conserving forest biological resources is widely disseminated.”