Korea`s T & I education began when Graduate School of Interpreting and Translation(GSIT) was established in 1979 at Hankuk University Foreign Studies(HUFS). GSIT has been developing through 3 stages of T&I education (initiation, transition and evolution). In the initiation period, GSIT mixed foreign language education with that of T & I, during which the faculty recognized that the two fields are quite different from each other. GSIT introduced and implemented the European model of T & I curriculum, but witnessed certain limits due to the lack of teaching materials, expert faculty, training facilities, etc. In the transition period, expert professors took up the education, back home after studying T & I or linguistics in Europe and other regions abroad. They took the process-oriented approach which was apt for the first stage of T & I education, focusing on the curriculum itself, rather than on the final T & I products. In the final and evolution period, GSIT`s education encouraged the critical thinking of the students, listened to their various viewpoints and let them set up their own conceptual framework. During the same period, T & I research became active, publishing a total of 1,011 papers in 3 top Korean T & I journals until the first half of 2014. At the same time, demand and supply in the T & I market also underwent a lot of changes. T & I curriculum has been sensitive to the market changes and it is now divided into translation major and interpreting major. Korea`s T & I experts should carefully consider the desirable direction of T & I education, curriculum, market and research activities from now on.