Purpose: This study investigates the operational status of Key Performance Indicators (KPIs) for industry-academic cooperation within South Korean junior colleges. By analyzing the perceived importance and actual performance among practitioners, the research aims to identify structural challenges in operational management and propose strategic directions for improvement. Methods: A web-based survey was conducted with 86 practitioners managing industry-academic cooperation at junior colleges in South Korea. The study analyzed the status of KPIs based on practitioner characteristics and utilized Importance-Performance Analysis (IPA) for a more in-depth assessment of the indicators. A five-point Likert scale was employed to measure both importance and performance levels. Results: The findings reveal that "Long-term Outcomes of Faculty and Staff" was the highest-rated domain in both importance and performance. Conversely, the lowest-rated domains were "Securing Facilities and Equipment," "Activating Joint Research between Universities and Corporations," and "Promoting Education and Training for Students and Corporate Employees." Notably, "Leadership of University Administrators," "Readiness of Participating Students and Corporate Employees," "Planning and Management of Joint Research," and "Economic Performance of Participating Institutions" exhibited low levels of both importance and performance, indicating these as critical areas requiring focused strategic improvement. Conclusion: This research provides significant practitioner-based insights into the operational realities of KPIs within the specific context of South Korea. These findings provide a foundational basis for reorganizing performance management frameworks within South Korean junior colleges.