Heat oven to 375°F. Place biscuits on microwavable plate. Microwave uncovered on Medium (50%) 45 to 50 seconds, turning over halfway through microwave time. (Biscuits should still be cold for easier handling.)
On lightly floured surface, roll or press each biscuit into 5-inch round. Place half of corned beef on half of 1 biscuit round, 1/2 inch from edge. Top with 1 tablespoon cheese and 1 teaspoon dressing. Repeat with remaining biscuit round. Carefully fold to enclose filling. Press edges to seal.
Brush tops of biscuits with butter; sprinkle with caraway seed. Bake 14 to 16 minutes or until golden brown.