The College of Government and Business has three divisions: the Division of Social Sciences (Economics, Public Administration, and International Relations), the Division of Business Administration (Business Administration and Management Information Systems), and the Division of Law (Law). The College also offers two interdisciplinary majors, International Commerce and Venture Entrepreneurship, and an interdisciplinary Honor Program in Finance. The faculty of the College have grown considerably over last two decades. To ensure a high academic standard, the College has recruited highly qualified scholars from world-class academic institutions. The expertise of the current faculty members enables the college to be abreast with the latest in state of art methods in education and research.

In 1984, the College of Commerce and Law was established at the Wonju Campus of Yonsei University. At that time, the College started with four majors, Economics, Business Administration, Public Administration and Law. Later, the College added more majors to cope with the educational needs for the 21st century. The Department of International Relations and the Department of Management Information Systems joined the College in 1991 and 1992, respectively. Two interdisciplinary majors, International Commerce and Venture Entrepreneurship, were added in 2000, and an interdisciplinary Honor Program in Finance was introduced in 2002. In 2004, the name of the college was changed from the College of Commerce and Law to the College of Government and Business.

The College's goal is to nurture leaders in both public and private sectors for the 21st century. To achieve this goal, the College offers curriculums which are designed to integrate theoretical perspectives with practical applications and to equip students with the capabilities of understanding and coping with the unfolding future. Currently, the College provides three study rooms for students preparing for the national examination for lawyers, government officials and accountants, and it also provides four IT labs for computations and other IT related practices. The dedicated and competent faculty of the College devote themselves to the excellence in education and research.

The Division of Social Science comprises the Departments of Economics, Public Administration, and International Relations. The Division aims to provide students with a basis for understanding the social behavior of human beings, and impart to them knowledge and skills to assist in solving a wide range of social and global problems. The Division also seeks to help students develop the ability to make value judgments for an effective social life.

The School of Business Administration consists of 2 areas: the Division of Business Administration and the Department of Management of Information Systems.
The Department of Business Administration aims to provide an education that focuses on understanding current business phenomenon and developing problem solving skills and communication skills to equip future professionals with the ability to lead in the age of globalization. In addition, the Department of Business Administration teaches students social and ethical responsibility as a business leader and provides foreign language and computer related education.
The BA curriculum provides students with an opportunity to develop needed skills and creativity to solve critical problems and to communicate efficiently in business through teamwork and case study.
The Department of Management Information Systems help students to develop analytical skills and comprehensive thinking to evaluate an organization's effectiveness and efficiency based on a thorough comprehension of internet and information technology.
The MIS curriculum offers a diverse set of subjects as listed below to cultivate students who are able to choose an effective methodology for various information systems projects and apply efficient problem solving techniques in order to provide an initiative solution to the business:
1. The goal of courses such as PCT and Web programming tool: to cultivate creative ability to utilize core information technology and information resource of modern business organization in order to cope with a rapidly changing business environment.
2. The goal of courses such as information system planning, system analysis, and design: To provide a systematic approach to solve and analyze given problems.
3. The goal of courses such as e-commerce, Decision Support, and Information Strategy: To develop the ability to carry out various forms of projects.

The Division of Law aims to provide students with education on the fundamental overall aspects of law rather than on the practical applications of the law.
We, therefore, focus on nurturing the capability of continuous self-reliant learning, and developing the logical way of thinking.
The Law department has a 'CHEONG-UN-JE' for students preparing for the national the judicial examination and 'CHEONG-UN-HAKSA' as a separate dormitory.