Korea Institute for Advanced Study (KIAS) is a newly established research institute with emphasis on theoretical sciences. Currently the Institute houses school of physics and school of mathematics, with a new program of computational science to be added in near future. As of the year 2000, the school of physics will consist of some twenty research fellows in addition to the four full-time faculty members, Chung Wook Kim, Kimyeong Lee, Piljin Yi, Insu Yi, and also Lenni Susskind as a part-time member. The areas of research are particle physics, cosmology, string theory, theoretical condensed matter physics, and physics of compact stars. The institute has a successful visitor program, and is crowded with all manner of scientists from the region as well as from the States and Europe.