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A total of 920 observations (230 in Delta B, 230 in Delta V, 230 in Delta R, 230 in Delta I) for V523 Cas were made on 5 nights from January 6 to 24 in 2003 using the 61cm telescope with 2K CCD camera of the Sobaeksan Optical Astronomy Observatory of KASI. From our observations 9 times of minimum light were newly determined. Combined analysis of our new BVRI light curves with the double-lined radial velocity curves of the Rucinski et al.'s (2003) were made with the 2004 Wilson-Devinney (WD) binary model to yield new physical parameters of the V523 system. Small asymmetries in light curves were explained with the adoption of a cool spot on the hot primary and a hot spot on the cool secondary.