This research examines the externalities of livestock production by classifying them into positive and negative effects and measures the willingness to pay for livestock industry support policy using the CVM. The survey result reveals that 65.4% of the population considers that a positive function of livestock production is more important than its negative function. They are willing to pay 7,495-10,314 won per household every year to expand positive externalities of the livestock production and to reduce its negative externalities. The value of the externalities of livestock production is estimated to be approximately 134.5–185.1 billion won.