This document summarizes higher education issues in South Korea. It outlines the rapid growth of the Korean economy and higher education system. It then discusses major issues like dominance of prestigious universities, lack of specialization, and disconnect between academia and industry. The government's efforts to reform include corporatizing national universities, quality assurance measures, funding programs to promote specialization, internationalization, and equity. Overall, the document provides an overview of the development, current status, challenges and reform efforts regarding higher education in Korea.