This study examines how the governing board of the School Juridical Person is organizedand functions. As universities are operated by the founders, national universities are managed by the Government, public universities by public organizations and private universities by the School Juridical Person because the founding body must be the School Juridical Person. The School Juridical Person is the legal body having the nature of the juridical person but it is not a natural person. Thus, the functions of the School Juridical Person must be exercised through he governing board which is composed of natural persons as the decision making body. Without the governing board, the School Juridical Person can not decide anything and can not act. That is to say the decisions of the governing board are the desision of the School Juridical Person, and the executions of these decisions are the actions of the School Juridical Person. Therefore, we can say that the governing board is the managing body to operate a private university which is established by the School Juridical Person. In the case of private universities in Korea, it has been widely recognized that most of the problems were due to the fact that the legal status and authority, organization and function of the governing boards which make up the most important part of the private university have not been clear. In spite of the importance of the governing boards, its organization and function are not commonly understood by the parties involved. There are no certain principles or theories on the organization of the governing board, at least in theory. However, the charters and by-laws of the governing board of the School Juridical Person are restricted by the Private School Law in Korea. Therefore, the pattern of the organization of the governing board of Korean private universities is similar in each university. The governing board is characterized publicly as being dominated by businessmen. Since an important responsibility of all university trustees is not only the allocation but the raising of money to sustain the university, a trustee should have some abilities or potentials in an art of managing and raising money; and to this extent, the presence of businessmen, lawyers and bankers on the governing board is not only inevitable but also necessary and desirable. Legally, the governing board has the full authority and responsibility for the university; there is no way in which it can avoid its charge. There are three major legal responsibilities which devolve upon the governing board. These are; (1) To select and appoint the president of the university. (2) To be finally responsible for the acquisition, conservation and management of university's funds and properties. (3) To oversee and approve the "kind" of education offered by the university, and make certain that its "quality" meets the highest standards possible. The position of the governing board, which is the decision making body for the operation of private university, is higher than that of the president and the faculty in university organization.