This paper to analyze the process, meaning, and tasks of lifting the ROK-U.S. Missile Guidelines. To this end, this paper consists of an introduction; a review of prior studies and theories on the Korea-U.S. Missile Guidelines; the history of evolution of the ROK-U.S. Missile Guidelines and the background, meaning, and results of the lifting of the guidelines; the ROK's future tasks after lifting the South Korea-U.S. missile guidelines; and conclusion. The ROK and the U.S. agreed to lift and end the South Korea-U.S. missile guidelines on May 21, 2021, following four revisions in 2001, 2012, 2017 and 2020. The strategic background of the U.S. acceptance of the lifting of the ROK-U.S. missile guidelines is that it is advantageous for the U.S. to pursue the India-Pacific strategy, respond to North Korea's nuclear missiles and transfer of wartime operational control. The significance of lifting the South Korea-U.S. missile guidelines can be summarized as ①securing South Korea's missile sovereignty, ②improving South Korea's security capabilities, and ③increasing industrial and economic ripple effects. The results of lifting the South Korea-U.S. missile guidelines are summarized as ①diplomatic achievements, ②military alliance achievements, and ③space industry achievements. The ROK should do its best to strengthen missile power also promote the development of the defense and space industries by ①resolving unnecessary mis- understandings and concerns, ②developing related technologies to secure practical deterrence, and ③operating missile power.