Faced with a devastated national economy and education system after the Korean War and guided by well-planned systemic educational reform linked to national development goals, Korea achieved universal primary and secondary education in the span of little more than a generation. Over the past decade, Korea has continued to focus on meeting increased public demand for higher education and lifelong learning. The principles guiding reforms in higher education include: flexibility, excellence, diversification, and efficiency. The government's plan enjoy almost unanimous support among the people. This paper examines the current state of Korea's higher education system, including recent changes and reforms, and looks at government initiatives aimed at promoting the use of advanced technologies and training. It traces the impact that Korea's commitment to education is having on educational achievement and national economic growth, and will show how experiments in online education suggest that further investment in virtual education programs could be a cost-effective way to expand overall access. Policy recommendations are offered in the concluding section.