In the past, it was unnecessary to consider the reallocation of reservoir storage because new reservoir construction was relatively not difficult. However, it became necessary since it is so difficult to construct new reservoirs in these days. In this study, the change of the water supply capability is evaluated through conservation storage drawdown frequency analysis, hydropower analysis, reliability, resiliency and vulnerability analyses for Geum River basin. As a result, it is confirmed that water supply capability of Daechung reservoir can be increased by reallocating flood control storage to conservation storage.