With industrialization and the development of technology, capitalism is evolving. The 'stakeholder capitalism' mentioned in the BRT means that more diverse stakeholders should be considered in the process of goal setting and management of firms. In this study, we searched and analyzed a total of 133 studies related to corporate governance and stakeholders registered in the KCI from 1990 to 2021 to explain research trends, keywords, major theories, variables, and industries analyzed. The findings show that past studies in the KCI have mainly focused on the issues of shareholder. However, since the mid to late 2000s, the scope of research has been expanded to other stakeholders including employees, consumers, and the government. In addition, it was confirmed that research on sustainability has steadily increased from the perspective of comprehensive governance structure since 2010. However, the results reveal that there was very few research that considers the characteristics of industry or stakeholder. Thus, it was judged that there is a limitation to providing sufficient implications to practitioners. We conclude with some future research directions to overcome this limitation.