This paper conducts a cost-benefit analysis regarding the establishment of “Foot-and-mouth Disease Vaccine Center.” Result of the cost-benefit analysis indicates that the total cost for estab-lishing the Center, developing the vaccine and operating the Center is 145.6 billion won and bene-fits are expected to be 15~188 billion won. The Net Present Value(NPV) is calculated to be -90~15 billion won thus the Benefit/Cost ratio is derived to be 0.08~1.16.