Rare K -> pi nu nubar Decays

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We present a concise review of the theoretical status of rare K -> pi nu nubar decays in the standard model (SM). Particular attention is thereby devoted to the recent calculation of the next-to-next-to-leading order (NNLO) corrections to the charm quark contribution of K^+ -> pi^+ nu nubar, which removes the last relevant theoretical uncertainty from the K -> pi nu nubar system.
Invited talk at LoopFest IV, during the 2005 International Linear Collider Physics and Detector Workshop, Snowmass, CO (Snowmass05), 4 pages, 2 figures

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