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The purpose of this study is to analyze the determinants of economic value estimation and valuation of premium bottled water in Korea. As an analytical method, Double-Bounded Dichotomous Choice(DBDC) of Contingent Valuation Method (CVM) was applied using 556 samples from Seoul and metropolitan area. As a result of estimating respondents’ payment amount by the WTP truncated mean, consumers are willing to pay an additional 1,139 KRW for premium bottled water. The determinants that affect willingness to pay are the number of purchases of bottled water, the lifestyle, and the importance of specific characteristics, that is, consumers who buy bottled water more frequently, have gourmet-seeking lifestyle and emphasize the marketing characteristics as well as essential characteristics of bottled water are found to be willing to pay more. On the other hand, it turns out that socioeconomic characteristics including income level have no effect on the willingness to pay.