Purpose - The purpose of this paper is to provide a survey of recent studies on Korean firms' financial policies and their interactions with financial markets, and suggest directions for future research. Design/methodology/approach - The authors review the finance research on Korean firms and markets, focusing on the articles published in the last 20 years. Findings - This survey of the recent Korean finance literature covers the research on the capital structure and the distinct financing behaviors of chaebol-affiliated firms and independent firms; the factors affecting the costs of capital and firms' preferences for capital budgeting methods; raising capital through public and private equity issuance; corporate governance and the market for corporate control; payout policies; and bank-firm relationship. The authors suggest a number of future research directions that may lead to significant contributions to the literature. Originality/value - This paper provides the first comprehensive review of the post-crisis corporate finance literature in Korea.