We compared the applicability and economical efficiency of peroxone process with those of ozone process in the existing water treatment plant on downstream of Nakdong River. After comparing the peroxone process for removing geosmin with the ozone process in lab scale test, peroxone process showed much higher removal efficiency than the ozone process at the same ozone dosage. Proper range of $H_2O_2/O_3$ ratio were 0.5~1.0 and the half-life of geosmin was about 5.5~6.8 min when the $H_2O_2/O_3$ ratio was set to 0.5 during 1~2 mg/L of ozone dosage. Peroxone process could reduce the ozone dosage about 50 to maximum 30% for the same geosmin removal efficiency compared to the ozone process in the pilot scale test. In case of 1,4-dioxane treatment, peroxone process could have 3~4 times higher efficiency than ozone process at the same ozone dosage. The results of estimating the economical efficiency of ozone and peroxone process for treating geosmin and 1,4-dioxane by using pilot scale test, in case of the removal target was set to 85% for these two materials, the cost of peroxane process could be reduced about 1.5 times compared to ozone process, and in the same production cost peroxone process could have 2~3 times higher removal efficiency than ozone process. The removal efficiency by peroxone process showed a large difference depending on the physicochemical characteristics of target materials and raw water, therefore detailed examination should be carried out before appling peroxone process.