In recent years, the impact of the ‘jeoldaepyeongga' (or absolute grading) system for the English section of the Korean College Scholastic Ability Test (KCSAT English) on English education has been a central issue of concern among English language teaching and testing professionals. The purposes of the current study were to: (a) conduct a survey of Korean college students’ perceptions about the relationship between their KCSAT English scores and actual college scholastic abilities, (b) analyze the collected data and identify remarkable patterns in their perceptions, and (c) offer suggestions for follow-up investigation. A total of 409 college students were invited to respond to an online survey consisting of 49 questions. Analyses of survey data yielded some meaningful results. First, the survey showed that approximately the KSCAT English band score of 3 should be the minimum requirement for undertaking study at 4-year colleges. Second, the students reported that they had more adequate levels of proficiency in listening and reading than in speaking and writing and identified speaking (including debate, Q&A, and presentation skills) to be the most urgent area needing improvement. Third, the students did not feel a strong link between the KCSAT English and college English courses in their major areas. Finally, the participants felt that they did not have sufficient levels of English proficiency in the field in which they were seeking to work upon graduation from college. The implications of these findings are discussed along with further work to be done.