PurposeThe purpose of this paper is to present the role of social values in setting healthcare priorities in Korea.Design/methodology/approachUsing Clark and Weale's draft framework, Korean healthcare priority setting was analysed. The process values used were transparency, accountability, and participation, and the content values used were clinical effectiveness, cost effectiveness, justice/equity, solidarity and autonomy.FindingsIn the Korean health priority setting, it was found that multiple factors influence the decision‐making process. Effectiveness and safety are the two most important values mentioned in the process. Cost‐effectiveness is also considered in reimbursement decisions for new drugs since 2007. Recently, health technology assessment (HTA) has begun to change the social value system traditionally used in the Korean healthcare priority setting.Originality/valueThe paper extends understanding of health priority setting in Korea, and how the interpretation and use of social values has changed over recent years.