The present study investigates the performance and tasks of the accreditation performed by Korean Institute of Medical Education and Evaluation. The study analyzes survey data for 309 professors and 41 accreditation reports published during the first accreditation cycle (2000~2004). The finding shows that 32 medical colleges were accredited and 9 medical colleges were accredited on probation. Up to 98.5% of must standards' and 85.3% of 'should standards' were satisfied in this accreditation. The areas of accreditation standards, such as students, and facilities were satisfied relatively lower than the curriculum and administration/finances areas. However, 70.2% of the faculties replied that the accreditation achieved its purpose, and 80.7% of them pointed out the necessity of accreditation system. All these things make it clear that the accreditation system has made a significant contribution to the quality of medical education and the accountability of medical colleges. In addition, there are some issues which need more consideration, such as the government recognition of accreditation system, evaluation experts training, and practical application of accreditation results.