This paper shows how temporal interpretation is determined in Korean. Specifically, this paper attempts to account for how temporal interpretation is derived, on the assumption that there is no TP in Korean (cf. Boskovic 2012; Kang 2013). In Korean, there is traditionally assumed tense morphology (e.g. -ess for past tense marker and -nun for a present tense marker). If there is no TP in Korean, however, it is not clear where these tense morphemes orginate. In fact, it has been controversial whether these morphemes are instances of genuine tense morphology in the literature. This paper scrutinizes the traditionally assumed tense morphology and shows that these morphemes are in fact not genuine tense morphemes; rather, -ess should be analyzed as a perfect aspect marker (cf. Chung 2005) and -nun should be analyzed as a mood marker (cf. Sohn 1994, 1999; Sohn 1995). Also, this paper argues for the existence of two types of aspect markers in particular: the overt perfect aspect -ess and the null imperfective aspect ø, which give rise to a past interpretation and a present interpretation, respectively. Furthermore, this paper argues that temporal adverbials also play a crucial role in determining temporal interpretation in Korean, and discusses interactions between aspect and other temporal elements such as temporal adverbials and modals.