Since South Korea has uneven rainfall and deteriorating water quality, it is imperative to create a comprehensive water resources policy and management. This paper is to adopt a win-win policy for upstream-downstream local governments that have been in water rights-related disputer or conflicts in the process of allocating water and maintaining water quality. The Win-Win Policy can be an integrated river-basin approach. We define the win-win policy, introduce the win-win case of Delaware River and Colorado River in the United States, and suggest the win-win policy for Nakdong River in South Korea. Nakdong River is chosen for this paper because it has more serious problems in preserving water quantity and maintaining water quality.