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Objectives: The burden of disease caused by the harmful use of alcohol has increased and the price of alcohol continues to decline in real terms. This paper focuses on the values with regard to how much people would be willing to pay if the health or social harm of alcohol were to decrease. Methods: Using a questionnaire survey we analyzed the value of individual health benefit and social benefit from reduction of alcohol consumption. The questionnaire was designed as a short form including socioeconomic characteristics (age, sex, income et al.), and each respondent (N=1,000) was presented with double-bounded dichotomous choice questions. We employed a contingent valuation method. Results: The value for willingness to pay for individual health benefit was 84.25 won for beer and 59.19 won for soju and that for social benefit was 84.96 won for beer and 64.25 won for soju. Overall, 54.9% of the survey participants agreed on price and tax increase for alcoholic beverages, they reported a twice value for social harm reduction of alcohol use, compared to the individual health benefit. Conclusion: Raising the price and tax would be in the public interest. For establishment of a stronger consensus on the social values of alcohol control, evidence for an effective alcohol-control measure should be accumulated.