In this article, I examine whether Korean education is properly preparing future generations for an era of rapid social change. Firstly, I delve into the background, realities, and legacies of the major social changes that we have undergone in recent years. In this regard, globalization and the fourth industrial revolution are the focus of discussion. Secondly, I assess whether the current Korean education is well suited to preparing the students for the future. Here, I discuss in some detail such education problems as academic achievement-oriented education practices, the flourishing of private education, the widening education gap between classes, abnormal lifelong learning curve, and outdated educational paradigms. Thirdly, I present key issues based on the diagnosis of the main problems of Korean education discussed earlier. In this regard, I discuss the establishment of educational philosophy and vision, the transformation of educational paradigm, the reduction of private education expenses, the easing of educational gap between classes, and education reform to prepare for the fourth industrial revolution. Lastly, based on these discussions, I briefly present policy alternatives.