This paper investigates empirically the role of research publications in an academic reward structure in Korea. Our sample includes 145 universities and colleges in Korea. Publication data for the academic year of 2012 show that top-tier research schools published more in international journals, while domestic journal publications were dominated by second-tier universities. The salary effects were identified using multiple regression models. We found that changes in faculty salary were determined significantly by international journal publications, but domestic journal publications had little effect on changes in salary. The use of an instrumental variable reconfirmed that the causal effect of international journal publications on a salary rise was positive and significant.