The study abroad phenomenon at an early age in Korea is increasing steadily. Increasing social demand for global leaders, disappointment in Korean educational system and economic growth are motivating more students to study abroad. The study abroad is a social phenomenon that is widespread across all social status in Korea. This study tries to examine the phenomenon in respect to social, psychological, educational and economical perspectives and seek future research questions. The findings suggest ways to improve Korean educational system, support students currently or planning to study abroad and to re-adjust in Korea after they come back. A balanced perspective is necessary in viewing study abroad phenomenon, rather than preventing, implementing stronger pulling factors in Korean educational system. It is necessary to hold the study abroad as another educational opportunity.