Economic analysis of biodegradable snow crab gill net model project

Abstract

The main purpose of this research is to analyze economic feasibility of biodegradable sonw crab gill netmodel project. The results of benefit/cost analysis show that use of the biodegradable gear is economicallyfeasible. Assuming that the rate of gill net lost is 5 percent, net present value was estimated 311,898,282590,533,375won, benefit-cost ratio 1.8161.923 and internal rate of return 7.9610.59%. Thedevelopment and diffusion of biodegradable fishing gear appear to make a significant contribution tofisheries resource conservation and marine ecosystem protection. In addition, biodegradable gear productionfirms may have a good opportunity of exporting it to other coastal states, depending on the progress of WTOsubsidy negotiation.Keywords: Benfit-cost analysis, Biodegradable, Gill net, Conservation, Ecosystem