Agreement between the experimental value Γ(KS→γγ) and the number predicted via a one-loop chiral perturbation theory calculation has been cited as a success for the latter. On the other hand the one-loop prediction for the closely related process KL→π0γγ has been found to be a factor 3 below the experimental value. Using the inputs of unitarity and dispersion relations, we demonstrate the importance of higher order loop effects to both of these processes.