Public R&D performance evaluation has co-evolved with the research environment. Under the intensification of competition for resources, performance evaluation not only focuses on the direct outputs, but also on the expected changes or benefits from the availability of the outputs. How to design an effective evaluation mechanism that can offer feedback and guidance for future initiatives and to link evaluation with strategies are of increasing consideration nowadays. This article explores the important trends of performance evaluation and introduces the R&D program evaluation system of Korea as a case. We illustrate how the R&D programs are classified and managed in accord with different evaluation purposes, and how the classification system can fulfill the function of result-oriented evaluation and feedback to its national S&T policy planning, coordination, and resource allocation.