One of the most important purpose of multi-purpose reservoir is storing a large amount of water for utilization in a dry season. However, multi-purpose reservoirs that were constructed according to the limited hydrologic information available at the time of construction may encounter problems such as decreased water inflow due to climate change and an inability to cope with a water shortage. To solve these problems, in 2015, the Ministry of Land, Infrastructure and Transport suggested a revised water supply standard in case of water shortage for reservoirs. However, the revised standard has not been sufficiently discussed to determine its effectiveness. In addition, multi-purpose reservoirs in South Korea have secured and stored water for emergencies, but there is currently no way to utilize the stored water. Determining how to utilize the stored water effectively may be a useful method for preparing drought. Therefore, this article discusses the revised water supply standard as it relates to a water shortage in reservoirs and a method of utilizing the water stored for emergencies in multi-purpose reservoirs. The options for utilizing the water storage were evaluated using a water shortage safety degree index, and the results showed that the options may slightly and limitedly increase the water supply capacity. However, the evaluation also showed that a complex application of two options may overcome the exisiting problem and to supply water more effectively.