The objective of this article is to measure and analyse on the short-run and long-run derived impact of several policies payment system implemented for Korean rice farm. First of all, Dynamic ex-anti partial equilibrium simulation model is specified for the baseline outlook of demand and supply in Korean rice market. And Several modules based on dynamic simulation model are developed to measure effects of the direct payment system. The liberalization of rice market is assumed in the long-run forecasting of demand-supply situation and several alternatives of open market are considered as follows. First, The case of MMA(minimum market access) expansion from 4% in 2005 to 8% in 2010. Second, The case of reduction of TE(tariff equivalence) rate(15% reduction of TE rate under mma 4% level, 45% reduction of TE rate under mma 4%). The direct payment system for income support and induction of decreasing of aging farms, the direct payment system for maintenance of public function of paddy field and encouragement of environment-friendly farming, and the direct payment for income support and adjustment of production quantity(limited implementation term) are analysed and several policy implications are suggested.