Korea, as a member of the OECD, will have to participate in various OECD committees and work programs related to corporate governance. By doing so, Korea will help reform Korea's corporate governance structure and strengthen international competitiveness of Korean companies.

This paper is organized as follows. Section II explains the characteristics, objectives, activities and obligatory duties as a member country of OECD. Section III introduces Japan's entry to the OECD. Section IV examines the current liberalization in trade, foreign exchange rate, current invisible operations and capital movement liberalization of the Korean economy and analyzes the additional items for the liberalization by comparing OECD rules. Section V investigates a degree of the maturity in the Korean economy and condition precedents for OECD entry, its advantages and disadvantages, and discusses the strategy for OECD entry. Finally, Section VI contains a summary and conclusion.