This paper analyzes the characteristics and problems of KAEA (Korean Agricultural Economics Association) with a focus on the current status of the organization, its management and academic activity based on the literature, and also presents future issues. KAEA has the longest history and largest membership among related associations. Along with the structural transformation in domestic and foreign agriculture, this standing requires KAEA to reform its function: More specifically, firstly, to improve its leadership in research on Korean agricultural economics with strong responsibility and spirit. Secondly, to construct an independent financial administration system. Thirdly, to broaden the research subjects and diversity methods in its journal. Fourthly, to activate discussion sessions and to provide solutions for academic debates on issues of agricultural policy, agricultural development and rural problems. Finally, to strengthen its function in international communication and cooperation.