The establishment of World-Class Universities (WCUs) is noted as a paramount development in the realm of international higher education. The integration of higher education into a more international scheme has enabled for higher education institutions (HEIs) to have a broader impact on the states and their respective citizens. This study examines the current environment of the higher education system, as well as the important factors that have contributed to placing WCUs at the center of international higher education policies. In particular, this study will analyze the policies and practices of the Republic of Korea that have been created to establish globally competitive HEIs. The Brain Korea 21 Projects, the WCU Project, and global rankings have contributed to the nation's ongoing quest for excellence in tertiary education. As HEIs in Korea continuously enhance their international status in the field of higher education, it becomes increasingly important to review and provide insights on globally competitive institutions as well as higher education reforms that have been applied to Korean universities.