Water management in Korea now faces three long-term trends, which challenge prevailing policy and investment responses: demographic trends, particularly a rapid ageing population, will drive water demand and strain revenues; economic trends and fiscal consolidation will affect the capacity of public funds to finance water management; and climate change will have an impact on water availability and the exposure to water-related risks.
The report Enhancing Water Use Efficiency in Korea: Policy Issues and Recommendations, 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.
The report advises that the institutional framework be amended to promote water use efficiency in Korea. It should be able to reflect local conditions and engage with relevant stakeholders at national, basin, or local scale. Some recent developments along these lines should be encouraged: educate and inform the population and water users about water scarcity, the opportunity cost of misusing or misallocating water, and the cost of supplying water; develop a strategic programme towards stakeholder engagement, with result-oriented performance management; basin organisations have a role to play.