This study intends to analyse the economical aspect of a GSHP(Ground Source Heat Pump) system compared to the conventional system which is consisted with a boiler and a chiller. This study has simulated four systems in Incheon. It developed and analyzed for applications in a residential and an office building which was based on the hourly EPI(Energy Performance Index, $kWh/m^2yr$). Case 1 is utilizing a boiler and a chiller to meet heating and cooling demand of a house. Case 2 is utilizing the same conventional set up as Case 1 of a office. Case 3 is summation of Case 1(house) and 2(office) systems and loads. And Case 4 is utilizing a GSHP to meet the combined loads of the house and office. The method of the economic assessment has been based on IEA ECBCS Annex 54 Subtask-C SPB(Simple Payback) method. The SPB calculated the economic balanced year of the alternative system over the reference system. The SPB of the alternative systems (GSHP) with 10%, 30% and 50% initial incentive has been calculated as 9.38, 6.72 and 4.06 year respectively while the SPB without initial incentive of systems was 10.71 year.