트랙형 축제식 해삼 양식업의 실물옵션 분석

Abstract

As awareness about the importance of health has been growing around the world, global demand for sea cucumbers continues to increase. However, Korea's sea cucumber production is approximately 2,000 tons per year, which is only 1% of the world's sea cucumber production. In order to revitalize the sea cucumber industry, production needs to be increased. Thus, Jeollanam-do Ocean & Fisheries Science Institute has developed the track-type sea cucumber culture production system. The introduction of the track-type sea cucumber aquaculture is expected to contribute to the competitiveness of the sea cucumber industry through mass production and labor reduction. Despite the need for increasing the sea cucumber aquaculture, however, it is necessary to make prudent investment decisions for fishermen as it requires a lot of initial investment costs. This paper aims to analyze investment decision problems from the perspective of the fishery industry. Thus, study targeted the Sinan area and Jindo area of Jindo Sea, which are known as Korea's representative cold water formation zones. From the results, Sinan small sea cucumber farming(6.6ha) complex showed economic feasibility could be achieved when the existing facility cost decreased by 10% and production increased by more than 5%. And Jindo large sea cucumber farming(220ha) complex showed economic feasibility could be gained even when the existing facility cost would increased by 55% and production would decreased by 20%.