Human beings are by nature sociocultural creatures. Our behavior is influenced not only by traditional value systems but also by contemporary education and training. In the same manner, the managerial practices of Korean managers are strongly influenced by the norms and value systems of the traditional Korean society. But, as the society changes from an agrarian society to an industrialized one, so does the behavior of Korean managers. This chapter focuses on the process of this change. More specifically, it will look at the effects of traditional value systems and those of industrialization on Korean managerial practices.