In the previous research, a simplified correlation method was developed as an easy prediction tool for comparing energy use of cooling plants. The purpose of this paper is to test the applicability of this method for economic evaluation with two zones of a 20-story commercial building in Seoul. The results of this method were compared with the DOE-2 simulation and actual measured data. Then, Comparisons of life cycle cost were carried out for three types of cooling plants. Testing of one zone showed good agreement of within 10% error in cooling energy use and within 2% error in LCC. But testing of the other zone indicated that the use of this method were invalid when input variables were used beyond its valid range.