The main purpose of this paper is to review the possibilities for introducing farmland banking system as a new farmland management system and a few policy issues surrounding it. The reasons why the introduction of farmland banking system is necessary can be summarized as follows : (1) Korean government should take a measure to stabilize the farmland market, (2) it should make the rice industry competitive by improving the existing farmsize through ‘farmsize increasing projects’ and restructuring the industry, and (3) it should cope with the diverse and increasing demand for farmland to empower and enterprise rural community etc. There are several policy issues for introducing new system : fundraising, taking legal steps for realizing new programs, harmonizing with other programs, reforming the practicing systems of the related policy programs(for example, farmsize increasing project), etc.