The purpose of this study is to suggest the characteristics of a cooperative storage facility for academic libraries in Korea. For this facility, discussed are how to select a site, build physical facilities, recruit participating organizations, prepare for selection criteria and ownership of resources, confirm service policies, and implement a integrated library management and access system. It is emphasized that a cooperative storage facility for academic libraries in Korea should ensure the optimum use of space on campus, preserve “the last copy” which is not frequently used, but still has scholarly values, and extend the effective and efficient resource sharing among participating libraries.