The report, building on a policy dialogue with a range of stakeholders in Korea, analyses
how economic policy instruments under the responsibility of the Korean Ministry of
Land, Infrastructure and Transport can be adjusted to contribute to water policy objectives.
It also investigates how Smart Water Management Korea, an initiative by K-water that
combines information and communication technology with water technology, can be harnessed
to better contribute to water management in the country. Finally, it identifies some
of the limitations of prevalent water allocation regimes which need to be addressed
to make the best use of available water resources.Since 1965, the Korean Government
has invested heavily in quantitative development strategies to meet water needs, and
despite highly variable water availability, this has allowed for and facilitated rapid
urbanisation and economic growth. However, several long-term trends are expected to
affect the capacity of the current water management system to adequately respond to
current and future water risks, such as rapid ageing of the population, fiscal consolidation
and climate change. These call for a renewed emphasis on water use efficiency.