The Ministry of Environment said Monday that it is working to come up with a way to put an economic value on the environment for future use in nature preservation measures and preventing damage to the environment through development.
The ministry said it has already commissioned Professor Kwak Seung-jun of Korea University to examine ways of determining the
economic value of the environment in an effort to preclude heated discussions on damages through the failure of nature preservation
policies, among others.
A ministry official said the study is at an advanced stage and the final report was presented last Friday.
Professor Kwak plans to use the Woo-po Wetland in Changnyong, South Kyongsang Province, as the example for the study because of its high ecological value, but he will consult with the Environment Ministry before drawing up its economic value.