Public willingness to pay for interim storage facility for spent nuclear fuel in South Korea
Year: 2025
Type: article
Study design: Observational Study
Abstract: As temporary storage capacity for spent nuclear fuel (SNF) nears saturation, securing interim storage facilities (ISFs) has become a critical policy priority in South Korea. This study employs the contingent valuation technique to estimate households’ willingness to pay (WTP) for ISF. A dichotomous choice question of whether or not to pay the offered bid was asked, and a spike model was utilized to deal with a WTP of zero. A nationwide survey of 1,000 households was conducted in 2024 via one-on-one interviews, with rigorous protocols being employed to ensure methodological validity. The average monthly WTP was obtained as KRW 3,244 (USD 2.37) per household, with a 95% confidence interval of KRW 2,922 to 3,611 (USD 2.14 to 2.64). Extrapolating this to the national level yields an annual value of KRW 863.52 billion (USD 631.22 million). Socio-economic covariates, including income, metropolitan residency, and awareness of SNF management, exhibited statistically significantly positive effects on the possibility of stating “yes” to a given bid. These findings provide actionable insights for stakeholder-driven decision-making, thereby underscoring the social and economic feasibility of ISFs as a viable solution to the challenges surrounding the country’s SNF management.
Authors: Ji-Yu Kim, So-Yoon Kwak, Seung-Hoon Yoo
Institution: Seoul National University of Science and Technology
Language: English
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: gold
Estimated APC paid: $200
OpenAlex ID: W4414568449