The 21st century society is characterised as a knowledge-based society, education mobility society, and cyber schooling society. This new paradigm of university enables us to restructure the university system in Korea. To establish an efficient and competitive education system, it is essential to change the current university system. Restructuring of universities should concentrate on reform of academic administration and of management system. The strategy for management innovation can be summarised as finding the balance between 1) tradition and renovation 2) specialisation and diversification 3) quantity and quality development 4) domestic and international dimensions.