This paper evaluates the term system of schoolmaster enacted in 1991 and suggests some alternatives. This paper explores both positive and negative effects of the term system and concludes the negative sides surpasses the positive ones. Much attention is paid to explain the particular meaning of schoolmaster. The schoolmaster in elementary, junior and high school contains the meaning of elder. In this sense, the position of schoolmaster is qualitatively different from the top position in other organizations such as the president of university or director of organization. The possibility that the schoolmaster regarded as the elder may return to the position of senior teacher after the expiration of the term can be hardly expected in Korean society. Hers, this paper suggests the term extension system and early honary retirement system as alternatives.