This is the Project Completion Report (PCR) for the Program for the Korea Science and Technology Education (KOSEF) in Korea. The objectives of the project were largely met. The principal objective of the program was to assist in raising the quality of science and technology education to standards required for an industrial system that will be more skill and knowledge-intensive, and it will employ more advanced technologies. The two unforeseen events affected project implementation. First, the Government reserved $5 million of loan proceeds for meeting possible deficits in equipment contracts caused by exchange rate fluctuations and the consequent need for additional payments in dollar terms in excess of amounts at time of contract signing. The actual total deficit was less than anticipated and there was insufficient time to utilize the unused part of the reserve before loan closing. The unused amount therefore contributed to the cancellation of about $3.5 million or 3.5 percent of the loan. Second, the initial enrollment of the newly established Korea National University of Teacher Education (KNUTE) fell behind planned figures due to an unexpectedly low demand for teacher education. However, remedial measures resulted in the enrollment target being met in 1989. Lessons learned from this project are as follows: (a) higher staff-week input at the upstream stage of the project cycle leads to lower staff-week requirements at the implementation stage, (b) effect of exchange rate fluctuations must be closely monitored, and (c) a coordinator for the preparation of the Project Completion Report 's needed for multi-ministerial projects. Conclusion - The successful implementation of KOSEF's research program was made possible through a rigorous Peer Review System in considering research proposals, high quality advice and consultation provided by Members of program development and review committee, and KOSEF's excellent administrative support.