This chapter focuses on a chain of closely knit social phenomena in post-IMF South Korean society that have complex and interesting effects on women in particular, and womens’ responses, both passive and active, to them. The terrain for these phenomena is permeated by neoliberal governmentality. The chapter begins with a review of theoretical frameworks based on Foucault’s later works on biopower and governmentality—especially his interpretations and criticisms of American neoliberalism. Foucault’s framework seems to work quite effectively for understanding the key issues analyzed here, but leaves some crucial questions unanswered. Careful studies of gender issues in the labor market and the social welfare system are examined in order to systematically show that post-IMF South Korean society has been transforming into a neoliberal social system. The chapter also analyzes the booming market for body care and cosmetic surgery, private marriage matching services, and the efforts students in secondary schools and colleges make to raise their human capital in a bid for better jobs in the future.