Table 4. Economic analysis of option A (Timber Only).

Discount rate	PV(Costs) (1,000 KRW/ha)	PV(Benefits) (1,000 KRW/ha)	NPV (1,000 KRW/ha)	B/C ratio	IRR
1%	−38,635	11,708	−26,926	0.30	−3.76%
2%	−34,449	7,154	−27,295	0.21	−3.76%
3%	−31,660	4,392	−27,267	0.14	−3.76%