In this paper, the current water management organization of the Korean government and those of foreign countries were analyzed to draw out a plan to build a more rational water management organization. And then, the two organization reform alternatives were discussed on which alternatives can effectively manage the water. Through the analysis, deployment of three divisions including the water policy, the wastewater policy and the division of water industries and business are the best alternative in terms of water equality, sustainability and efficiency, which are the three main goals of the new Water Management Act, Water Management Basic Act. With much efforts, the Korea has come to the era of One Water Management. The water management paradigm proposed in this opinion is expected to become a new engine of economical growth of the nation.