The purpose of this study was to identify the current application and evolution of neo-liberalism that becomes a ideologic basis of recent Korean education, and also intends to expose questions around school physical education and address the corresponding challenges. As our domestic educational sections become reorganized according to the logics of market economics, the noe-liberalism becomes a foundation of a series of recent Korean educational reforms, because it essentially aims to relieve or weaken the governmental responsibility for national education and the educational right of nation current neo-liberalistic education tends to commercialize and interpret elite sport mainly according to economic logics, while neglecting moral or ethical aspects around physical education fields. it is critical that we should recognize that our desires for the movement or motional activities as an internal value of physical education cannot be met exclusively by means of money or other corresponding incentives. Obviously, it is vain and time-consuming to discuss the evaluation of such motional desires by economic logics. Physical education as a whole person education based on a harmony between physique knowledge and virtue can be implemented by certain experiences and direct practices, so it is very different from the labor manpower under the market principles. Neo-liberalism has also both limitation and efficiency in terms of essential aspects or practical phase. As a matter of fact, noe-liberalism has brought us a remarkable success in the economic, cultural and social level, so that our nation could meet advanced internationalization along with globalization. However, we must neither consider students around educational fields as a demand, nor induce them to toughly competitive grounds even at the cost of our education under the justification of so called `globalization` Of course, it is also necessary to reset the directions of elite sport around school physical education without forgetting the essence of school elite sport.