This study experimentally and analytically examines the seismic vulnerability of steel rack storage frames subjected to Korea earthquakes (2016 Gyeongju earthquake and 2017 Pohang earthquake). To achieve this aim, this study selects a three-story, one-bay steel rack frame with a typical configuration of rack frame in Korea. Firstly, the local behavior for frame components is examined by performing monotonic and/or cyclic load tests and the global response and dynamic characteristics of the subject rack frame are investigated by conducting a shaking table test. The analytical model of the rack frame is then created based on the experimental results and is used to perform nonlinear time history analyses with recorded Korea earthquakes. The seismic demand of the rack frame is considerably affected by the spectral acceleration response, instead of peak ground accelerations (peak floor accelerations). Moreover, the collapse fragility curve of the rack frame is developed using incremental dynamic analyses for the Gyeongju and Pohang earthquakes. Fragility results indicate that the ground motion characteristics of these earthquakes do not significantly affect the frame vulnerability at the collapse state.