The world’s sustainable growth is being severely hampered by the inefficient use of water resources. Despite the widely acknowledged importance of trade in global and regional water and food security, societal reliance on local production, as well as international trade, remains inadequately assessed. Therefore, using South Korea as a case study, this study fills in this research gap by applying the virtual water concept, the logarithmic mean divisia index (LMDI) method, and the Tapio decoupling model. The virtual water concept was used to estimate South Korea’s net virtual water trade for major grain crops from 1992 to 2017. Then, the LMDI method was utilized to assess the driving factors causing changes in net virtual water trade. Lastly, the Tapio decoupling model was used to investigate the decoupling relationships between economic growth and the driving factors of net virtual water trade. The results showed that South Korea remains a net importer of virtual water flows with respect to grain crops, with an average import of 16,559.24 million m3 over the study period. In addition, the change in net virtual water trade could be attributed to the water intensity effect, product structure effect, economic effect, and population effect. However, water intensity and economic effects were the major decisive factors for decreases and increases in net virtual water trade, respectively, while the population and product structure effects had minor positive influences on the net virtual water trade. Furthermore, water intensity and economic growth showed a strong decoupling in most periods, while the decoupling state between product structure and economic growth was observed as expansive negative decoupling. Likewise, population size and economic growth showed a weak decoupling in most periods. The results reveal South Korea’s status as it concerns the virtual water trade of grain crops, thus providing valuable insights into the sustainability of trade activities for the management of local water resources.
The challenge of unstainable agricultural water usage in Korea has continued interminably despite persisting climate change impacts; thus, necessitating urgent actions to forestall future water crises. However, achieving this goal requires the involvement of stakeholders to develop an effective governance policy concerning water saving. This study investigates the components of water governance following existing water policy gaps. A multi-level Delphi-AHP technique was used to identify and prioritize the essential components of agricultural water governance that can specifically enhance water-saving policy in Korea. The analysis of twenty-nine formulated components (six main and twenty-three sub-components) based on the OECD water policy gaps was conducted. A Delphi-AHP technique with process evaluation of the agricultural water experts’ opinions under pairwise comparisons was used to arrive at the relative order of importance of the components. The order of main components based on the consolidated weight follows core actors (0.316), law, policies, and systems (0.069), budget support (0.135), information sharing and communication (0.099), mutual learning (0.142), and external experts (0.239), while village representatives (0.353), legislation (0.358), central government (0.311), policy committee (0.309), education course (0.374), and facilitator (0.402) were considered as priorities, respectively, for the sub-components of water governance. The findings indicate that strengthening the informal institution could address the water governance gaps in the agricultural sector to achieve water-saving policies. This study recommends a bottom-up approach to water governance that could promote the active participation of core actors such as farmers and villagers in the design of policy and management of agricultural water resources.