The purpose of this study is to explore, 1) the purpose of running corporate social responsibility activities of Korean companies and status of CSR activities, 2) the limitations of corporate social responsibility activities and practices, 3) the possibility of a CSV (creating of shared value) as a way to overcome such limitations. 83.6% of 500 private and public companies have established a strategy for CSR and 87.6% of them inscribed this in an official document. These companies practice CSR to make a positive corporate reputation and the ratio of donations of the entire CSR budget has reached 57.4%. Meanwhile, Korean companies perceived the media as an important stakeholder and conducted CSR activities as a marketing or promotional tool. In order to pursue the practice of corporate citizenship while ensuring the conduct of corporate profit under capitalism, CSR activities are required to switch to the CSV. Companies must create a shared value with many other stakeholders in order to pursue the public interest and the profitgenerating actions at the same time. Basically, the company should be clearly aware of the responsibility for their existence based on the consumer and society, develop items for CSR that company can practice best and continue efforts to practice consistently.