This report assesses the effectiveness and impact of Bank lending for educational development in Korea from 1969 to 1984. During this period assistance was provided for five education projects whose total cost was US$892 million. Bank support amounted to US$203 million, of which approximately US$198 million was utilized by January 1985. In monitoring the improvements which have taken place in the education system it is clear that the greatest achievements have been in the technical/vocational areas, at secondary, post secondary and tertiary levels. It is precisely in these areas, and at these levels, that the Bank's intervention has been prominent and the impact of Bank lending for educational development has been both significant and successful. The projects supported by the Bank in Korea revealed a well developed strategy in which various strands were woven together to ensure solid and sustained progress. These strands included equipment provision, teacher and instructor training, curriculum revision, research and evaluation activities and a continuing concern with institutional development. By focussing on these respective components, Bank-supported projects have contributed to improvements in technical/vocational education as well as to the industrialization of Korea.