Growing up in Ukraine, Korol was a product of FC Dinamo Kiev academy system. He joined the academy – under the influence of the famous Valeriy Lobanovskyi methodology – at the age of 12 and was there until age 15 when he got an opportunity to move to the United States.
Korol moved to Rochester NY in 1993. His senior year in high school he set NY State record for goals in the season (52) and he was named high school All-American.
Upon accepting a scholarship to play at Indian University, Korol was an All-Big Ten selection in each of his four seasons, winning Big Ten Championships every year in Bloomington. A 1999 All-American and Soccer America's Collegiate Player of the Year that season, Korol scored 57 goals and assisted on 35 others for a career point total of 149, the fourth-most in Indiana history. He was named to the Soccer America “Team of the Decade” (1990 – 1999)
During his All-American season in 1999 he scored a career-high 20 goals and posted 10 assists to become the first IU player in a decade to score 50 points, garnering All-Region and Big Ten Player of the Year honors along the way.
At Indiana Korol made three College Cup appearances with the Hoosiers, guiding IU to back-to-back National Championships as a junior and senior. Korol posted 29 points on 12 goals and five assists in 17 NCAA postseason matches from 1996 through 1999, and he ended his collegiate career tied for the most points in NCAA Tournament history as well as being the only player ever selected to three straight NCAA All-Tournament Teams.
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Drafted by the Dallas Burn (now FC Dallas) with the fifth pick in the 2000 MLS SuperDraft, Korol played two seasons in Dallas, playing in 36 matches and scoring seven goals and assisting on four others. He then appeared in one game for the Chicago Fire before injury hampered his MLS career. He finished his professional career in the United Soccer League in 2003 and 2004 before moving to the coaching ranks.
Korol has extensive experience coaching in the youth ranks. His experiences in youth coaching range from starting youth academy programs in New York, Indiana, and Illinois. He was the co-founder and staff coach of Chicago United FC in 2007 and coached there until 2011. Several players who started their youth careers at CUFC have gone one to earn scholarships at the collegiate level, while a few have/will feature at the professional level as well.
Aleksey joined the coaching staff at UIC in 2006. Aside from spending a year on the coaching staff at Indiana in 2009, Korol has been a pillar on Flame’s Field, helping UIC reach six NCAA Tournaments and going as far as the Elite 8 while being ranked as high as #4 in the country. The Flames have won the Horizon League 9 times out his 14 years there, while several players have gone on to become conferences players of the year, All-Americans and professional footballers.