The study is a result of an interdisciplinary approach of a research team guided by Professor Kwi-Gon Kim, Seoul National Univer-sity. The research team's excellent perceptions of environmental impact assessment problems of a new town development and the role of economic appraisal of environmental protection measures shape the analytical foundations of the study. It is expected that, particularly at this early stage of the EIA process in Korea, this study will be useful to individuals, institutions and agencies working in the field of environmental impact assessment and related areas.