A joint resolution to authorize the Korean War Memorial, Inc. to erect a memorial in the District of Columbia or its environs.

Authorizes the Korean War Memorial, Inc., to erect a memorial on public grounds in the District of Columbia, or its environs, to honor members of the armed forces who served in the Korean War.

Directs the Secretary of the Interior to select, with the approval of the National Commission of Fine Arts and the National Capital Planning Commission, a suitable site for such memorial.

Subjects the design and plans for the memorial to the approval of the Secretary, the National Commission of Fine Arts, the National Capital Planning Commission, and the American Battle Monuments Commission.

Declares that, except for the land authorized for such memorial, no moneys or property belonging to the United States, the District of Columbia, or any State or local government shall be expended for the erection of such memorial.

Terminates the authority for the erection of such memorial unless: (1) erection commences within five years of the enactment of this resolution; and (2) sufficient funds are available.

Holds the Secretary responsible for the maintenance and care of the memorial and its grounds.