Impact pathway analysis(IPA) is a bottom-up approach to estimates health and environmental risks from emissions of classical pollutants (eg. $PM_{10}$, $SO_2$, $NO_x$ and CO). The model starts from the emission rates of facility, calculates the yearly mean concentrations of pollutants at the ground level using atmospheric dispersion models. After this, proper epidemiological exposure-response functions are applied to determine the impact on the receptors. Finally the methodology can monetise the calculated physical impact on the basis of selected economic evaluation. The aim of this study is to evaluate an external cost of virtual point source in Suwon area using IPA. The results shows minor modification of local input data can make it possible to apply the model to Suwon area.