This study proposes rational factors for evaluating the performance of virtual university systems currently operating at many universities nationwide, and also presents implementation strategies for building effective systems. As lecture delivery through virtual university systems is expected to become increasingly commonplace and student enrollment in virtual courses is projected to grow, it is anticipated that virtual university lectures will enable students to participate in classes anytime and anywhere without constraints of time and place, and that the effectiveness of instruction can be enhanced by utilizing various information technologies including computers and the Internet. Therefore, prior to the full-scale adoption of virtual university systems, an analysis of how much benefit virtual university systems provide compared to traditional classroom instruction is necessary; however, there has been virtually no empirical research investigating the effects of lecture delivery through virtual university systems compared to traditional classroom instruction. In this study, detailed evaluation criteria were developed and presented across three domains for assessing virtual university system performance: course design and development, lecture delivery methods, and course operation and management. An online survey was conducted targeting students who had taken courses and professors who had taught courses under the experimentally operating virtual university systems in Korea, with evaluations made for each criterion. To assist in establishing improved virtual university systems in the future, implementation strategies were derived from the survey results and presented separately across the three domains of course design and development, lecture delivery methods, and course operation and management.