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The purpose of this article is to evaluate the two Korean laws of 1958 and 1962 relating to price-level adjustments, to explore their background; and to suggest the importance of voluntary interest by accountants in price level procedures to meet the problems of inflation. As long as inflation remains unchecked, it appears that further government laws dealing with revaluation may be necessary. If accountants were well acquainted with the calculations to apply to each account, it might eventually be unnecessary for the government, in this case, Korea to fix multipliers, which are neither flexible nor reasonable. The Korean experiences suggest several general recommendations. It would seem important to stress broad accounting education on price level problems, to urge more active participation by the accounting profession in solving these problems, and to continue to speak for freedom in the selecting of accounting procedures such as depreciation methods. Moreover, the application of price level adjustments should not await the time consuming legal maneuvers that are usually too late in being applied.