Among the problems in business education in Korea, the lack of full-time professors is the most noticeable. This research aims to understand the current situation and identify the problems around the supply and demand of the business professors in Korea, and contribute to formulating policies relevant to the solutions. Through the survey, we investigated the current situation of 4-year colleges(universities), which have the department of business that offers a bachelor’s degree in business, about the students, full-time professors, doctoral programs, and curriculums. The result shows that the number of the students per a full time professor reached 44.2 in the department of business, while it was 24.5 in the extent of the whole university (Ministry of Education, Science and Technology, 2008). The increase rate of the students in the department of business surpassed the one of the whole university, but the increase rate of the full-time professors was lower than that. The employment of full-time professors was increasing mainly in the universities that were accredited or preparing for the business education accreditation, which clarified that the adoption of the accreditation system significantly contributed to the improvement of business education. On the other side, the influx of the people with doctoral degree from foreign universities into Korea was rapidly decreasing recently, but the supply of full-time professors have been dependent upon them. Thus, it is required for Korean universities to systematize the cultivation of competent full-time professors by concentrating on the doctoral program. To improve the business education to meet the global standard, the cultivation system for stable supply of full-time professors should be supported by the academia and the national government, in terms of finance and policies.