Analysis of the Economic Effects of Jeju Regional by Hosting the International Seaweed Symposium

Purpose: The purpose of this study is to clarify the significance of the International Seaweed Symposium held in Jeju Island and to calculate the ramifications of the community in Jeju in the context of quantitative and qualitative effect. Through this, it aims to have initiatives in the marine, environment, and biodiversity related industries. Research design, data and methodology: First of all, the detailed measurement items of qualitative effect were searched and classified into quantitative effect and qualitative effect, and secondly, the relative importance between quantitative effect and qualitative effect was measured. Then, the importance between detailed measurement items within the qualitative effect was calculated and based on the result, the qualitative effect was quantified based on the quantitative effect. In order to reflect the opinions of experts on qualitative effects as much as possible, an expert survey was conducted. In this study, Delphi and AHP (Analytic Hierarchy Process) methodologies were applied. We also analyzed the short answer items included in the questionnaire using Nvivo 11.0. Results: The quantitative effect (economic effect) of the symposium analyzed in this study was estimated to be about KRW 6.21 billion in production, KRW 62.2 billion in added value, and 34 persons in employment. In qualitative effect, the promotion effect of Jeju area can be estimated to be about 12.7 billion won, and the promotion of Jeju marine industry can be estimated at 10.8 billion won. The combined effect of these quantitative and qualitative effects was KRW 33.3 billion, and the B / C ratio was 6.88, suggesting that the economic ripple effect of supporting the symposium was secured. Conclusions: The implications of holding a symposium in this study suggest the future possibility of the Korean seaweed industry, and it can be expected to develop the industry. In addition, the Jeju Ocean Environment Declaration was proclaimed in front of seaweed experts from around the world. In conclusion, through this, it can be used to verify the validity of local expenses of international events. The results of this study are expected to be used as basic data for judging whether to attract similar international events.