Equity, quality, and cost in higher education is examined as it exists within the Republic of Korea. Chapter 1 of the report explores the background rationale for the study, which stemmed from an earlier study's conclusion that the Asian Pacific Region was experiencing deteriorating quality levels, access discrimination, and serious resource availability in its higher education programs. Chapter 2 reviews the concept, scope, and methodology of the study. Chapter 3 examines the overall health of higher education in the Republic of Korea within the context of each area of the study's focus (equity, cost, and quality), their interrelationships, and a historical overview of higher education within the country. Here, statistical information is presented on such areas as student enrollment, tuition variances between institutions, financial aid analyses, staff qualifications, and overall facility development and adequacy. Chapter 4 provides a comparative analysis of two case studies (Seoul National University and Yonsei University) to examine equity, cost, and quality in higher education as it applies to a national university and a private university of equivalent size. Chapter 5 reviews educational policies, programs, and strategies over the last 5 to 10 years that address equity, quality, and cost issues. Recommendations and conclusions are discussed. Contains 51 references. (GLR)