To review the changing role of Korean Academic Society of Business Administration(KASBA) to cope with rapidly changing business environment in last two decades after the earlier paper was written for 40th anniversary of KASBA is the goal of this paper. Under Japanese colonial period until 1945, Business Economics from Germany and Japan was a cornerstone for setting Business Administration as an academic field in Korea. After the Liberation of 1945, U.S. military government influenced significantly the business in practice and in academia. In the mid-1950s, with a support for setting management education by U.S. government, many universities in Korea began to establish the departments of business administration and many practitioners and scholars visited U.S. to learn business administration. After 60 years later in 2016, 592 undergraduate departments of business administration in 4-year universities are established and many graduate programs are operating for business administration education in Korea. With these numerous education programs, however, both the research for Korean-style management and the education of scholars in Korean universities are still in its early stage. Many Korean scholars are writing papers in prestigious academic journals but the topics of many of those papers are not related to Korean business issues. In some cases, the requirement of writing papers in foreign journals for promotion at universities produced unexpected negative results such as not knowing Korean business issues or not attending academic meetings held in Korea. Now, it is time to sketch and define the Korean-style management and dispatch it to other developing countries in the world. Also, the practice-oriented management education should be emphasized in undergraduate business educations and MBA programs in Korean universities.