Purpose: Management of water is a crucial issue globally and is becoming more critical due to climate change. The purpose of this study is to explore water resource management by considering price and water usage based on river basins and to suggest more efficient residential water demand management in South Korea. Research Design, data, and methodology: This study applied data of water usage and water price of 15 regions in four major river basins by considering up and downstream locations from 1997 to 2017 collected by Ministry of Environment in Korea. This study applied regression analyses, ANOVA, and 2-Way ANOVA to verify its claims. Results: The results found that effects of price on water usage showed significant in many cities. The results also showed that means of water usages differ based on location (upstream and downstream) and river basins. Conclusion: The findings provide important policy and management implications for the improvement of water resource management in terms of demand. The results also indicate that water price should be reconsidered by comparing water price levels with those of OECD countries. Furthermore, the results imply that water management in Korea needs to improve in terms of supply to cope with climate change.

Abstract
1. Introduction
2. Literature Review
    2.1. Price Elasticity of Water Demand
    2.2. Water Price in South Korea
    2.3. Comparison Analysis with OtherCountries
    2.4. River Basin Management
3. Hypothesis Development
    3.1 Effects of Water Price on ResidentialWater Demand
    3.2. Effects of Water Price on Price Elasticityof Residential Water Demand
    3.3. Price Elasticity of Residential WaterDemand based on Location (Upstream vs.Downstream) and River Basins
    3.4. Water Usage based on Location (Upstreamvs. Downstream) and River Basins
4. Methodology
    4.1. Description of Data
    4.2. Selection of Regions
    4.3. Description of Water Usage
    4.4. Description of Water Price
5. Data Analysis
    5.1. Water Price and Water Usage in 15Regions
    5.2. Hypothesis Testing
6. Conclusions
    6.1. Findings and Implications
    6.2. Limitations and Future Research
References

• Giwon SEO(Biodiversity Division, Ministry of Environment, S. Korea)
• Yooncheong CHO(KDI School of Public Policy and Management, S. Korea) Corresponding Author