Economic Analysis and Unit Production Cost Estimation of Seaweed Production: Focusing on Sea mustard and Kelp in Gijang, Busan, Republic of Korea

This study conducted a management status survey on seaweed production companies located in Daebyeon, Gijang, Busan, and analyzed their profitability and economic feasibility using the collected data. The profitability analysis showed that the five surveyed companies had an average net profit margin of 19.02%, indicating relatively stable profitability. In the economic feasibility analysis, all companies showed a Benefit-Cost Ratio (BCR) exceeding 1, with an average BCR of 1.150, confirming that seaweed production is an economically viable business. Furthermore, the production cost of seaweed was estimated by dividing total production expenses by total production volume for each company. The results showed that the average production cost per kilogram was KRW 869.