"...The acquisition and application of knowledge coexist in the learning process.... Application is in fact a part of knowledge itself, and therefore knowledge that is not applied loses its meaning to that extent...." These are the words of the British mathematician and philosopher Alfred N. Whitehead (Whitehead, pp. 218–219). Applying his words to business administration, management knowledge becomes meaningful not when it merely stops at learning but when the acquired knowledge is actually applied; furthermore, rather than applying management knowledge after learning it, its meaning becomes even greater when application occurs simultaneously during the learning process. Accordingly, Whitehead's words hold special significance for business administration as an applied and practical discipline, and particularly imply the importance of case study as a method of education and research in business administration. Business administration in Korea has developed rapidly alongside the nation's economic growth since the introduction of modern management concepts in the late 1950s, contributing significantly to the high growth of Korean enterprises. Over the past 30 years, the Korean economy has grown more than 14-fold, and business education has also increased more than 10-fold in student numbers. Despite such remarkable past economic development and growth in business education, Korea currently faces the critical challenges of strengthening corporate competitiveness and advancing management sophistication amid the waves of internationalization and economic liberalization, and the importance of business education and research in Korea is being emphasized more than ever. Under these circumstances, this paper examines the role and importance of case study in business education and research in Korea.