This research aims to analyze the effect of different types of urban parks and their locational characteristics on the apartment price in the entire metropolitan area of Busan, Korea. Although an urban park is an environmental good that influences the surroundings in many ways, most of the previous studies have underestimated its impact on the value of the surrounding area. This research focuses on the economic value of urban parks by understanding their relationship with the value of the

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... ents in the surrounding area with its significance in their physical and objective characteristics. Furthermore, the research emphasizes the different typological characteristics of urban parks in the analysis. In summary of the result, the number of levels (stories) and units of the apartment complex, ranking of the contractor, age of a park and accessibility to sub-central are positively related to the price of apartment units. On the other hand, the total area of apartment complex, the age of apartments, the distance to the nearest park and accessibility to civic-central or regional district are negatively related to the price of apartment units. Having a plan for constructing a park is also positively related to the price. For the typological characters of a park, neighborhood park, small-sized park, and sports park are positively related to the price, while children's park is negatively related to the price of apartment units. Considering that the price increases as the distance to the nearest park decreases, people prefer to live near the benefits that urban parks provide. In order to maximize the value and benefits that parks provide, it is necessary to approach them creatively.