The purpose of this study is to promote future research and practical application in the field of records systems by informing the revision of the ISO 16175 standard set and analyzing its main contents, which was widely used as a record management functional requirements. Based on the experience of participating in the developing process of this International Standard since 2015, this study analyzed the context and process of revision, and the main contents of the standard, and sought to draw limited implications and proposed follow-up researches connected to the practice of the Korean records systems. The previous ISO 16175 sets had been produced as ISO 16175-1, 2, 3 in 2010-2011, and which were restructured and revised into new ISO 16175-1, 2 in 2020 in line with the revision of ISO 15489 and changes in the digital environment. Main title of the International Standard is processes and functional requirements for software for managing records, and Part I provides high-level functional requirements and associated guidance for applications that manage digital records, Part II provides guidance for selecting, designing, implementing and maintaining software for managing records. This standard assumes that the records system does not necessarily have to be a single system or software solely for records management and that it should be able to perform record management function in any forms.