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This case study aims to analyze accreditation system in business education, both global and domestic ones, to show challenges and remedies to improve foreign trade education and its recently-adopted accreditation system. Included for analysis in this study are AACSB, EFMD, AMBA, ABEST21, and KABEA, followed by some literature survey. Results show that business education has around a century history of accreditation, originated from U.S.A, based upon market-based paradigm. In spite of low market entry barrier, accreditation system tends to evolve into fairly monopolistic one backed by consumer surplus. And there are pros and cons over accreditation system such as effectiveness, fairness, validity, and efficiency. Case review of several accreditation agents reveal that concerns have existed over their scope, goal, method, standard, people, benefits, limit for growth, and operation system. Foreign trade education and accreditation should take those preceding experience into consideration in order to sustain itself with increasing popularity.