According to the study report by Yoo and Chae, ozone pollution is a serious issue in Seoul, Korea: The number of ozone warnings has increased from 2 in 1995 to 10 In 1996, to 19 in 1997 (49). The main reasons for such an increase were the rapid urbanization, industrialization, and population growth (Yoo and Chae, p. 49). Moreover, the landscape of the city provides a welcoming environment for air contamination: The area is surrounded by mountains, causing the air pollutants to pool and resulting in high levels of harmful gasses, such as carbon monoxide (CO) and sulfur dioxide (SO) (Yoo and Chae, p. 49). Seoul residents have previously combatted the high levels of air pollutants by changing to natural gas and low-sulfur diesel fuel, and these efforts proved to be effectivethe levels of CO and SO decreased by 53.8 percent and 78.4 percent, respectively, in 8 years. However, the ozone levels increased by 77.8 percent during the same period (Yoo and Chae, p. 50). Yoo and Chae argue that reducing ozone pollution is vital for the well-being of the population since high ozone levels are linked wit
h increased rates of mortality and respiratory diseases (p. 50). The central aspect of the ozone pollution control policy is the use of cars, particularly diesel vehicles, as they account for about 81 percent of the current pollutant emissions: Policy-makers are currently addressing the probable effectiveness of regulation and other measures to control ozone pollution, such as the installation of filtering systems for large diesel vehicles (Yoo and Chae, p. 50). If the proposed policy is implemented, the costs will be paid by the government straight away with the expectation that increased taxes and other charges will generate enough profit to cover the initial investment (Yoo and Chae, p. 50). The cost and benefit analysis (CBA), therefore, could help to analyze the repayment prospects and to evaluate the policy. Thus, the purpose of this study is to use an environmental valuation method to measure the economic benefits of implementing an ozone policy for residents of Seoul, aiming to provide policy-makers with at least a preliminary evaluation of the proposed policy (Yoo and Chae, p. 51).