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Study finds wide gap in compensation from '07 South Korean oil spill
Date:9/3/2014

oved.

  • The focus was on the loss of direct use value. The social and ecological impacts to the ecosystems and the communities were not considered.

  • No economic evaluations conducted by academic scholars were considered.

    When the researchers reviewed how other countries compensated for large-scale oil spills, they found that it was much greater even more than 100 percent of the claims after extensive governmental and legal involvements.

    "I hope this research will help reduce this gap in the future and highlight the necessity for the compensation stakeholders to consider economic evaluation studies, such as studies using the contingent valuation method that some countries use to figure compensation," Min said.

    The Hebei Spirit oil spill cases were unfriendly to the community and offered no scientific support, Kim said.

    "Korea is a very pro-enterprise country," Kim said. "It needs to support the big enterprises like Samsung and Hyundai and LG because they have a big contribution to the Korean reputation, but sometimes they also have negative effects on actual communities in Korea because of the labor system and the environmental impacts."

    The researchers hope the study helps inform decision-makers.

    "I hope this paper gets some attention from not only Korea but other parts of the world. I hope, in the future, policymakers want to use these types of findings to be a little more toward the pro-community side instead of pro-enterprise." he said.


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  • Contact: Brittany Hoover
    brittany.hoover@utdallas.edu
    972-883-4357
    University of Texas at Dallas
    Source:Eurekalert  

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