This review covers recent research and development (R&D) activities in the field of algae-based biofuels in Korea. As South Korea's energy policy paradigm has focused on the development of green energies, the government has funded several algae biofuel R&D consortia and pilot projects. Three major programs have been launched since 2009, and significant efforts are now being made to ensure a sustainable supply of algae-based biofuels. If these R&D projects are executed as planned for the next 10 years, they will enable us to overcome many technical barriers in algae biofuel technologies and help Korea to become one of the leading countries in green energy by 2020.