Mining Research Center is making a study to establish and develop a practical ore-dressing procedure with low grade iron ore in Hongchon area and the Report 1, Jaun iron mine, issued on October 20th, 1967. Now, Government is planning to exploit the relatively high grade iron ore as selective mining at Hongchon mine which is estimated about 3,200,000 ton containing around 32% Fe prior to regular mine exploitation in this area. Hereby, a beneficiation study was mainly carried out with the composite sample taken from 4 outcrops at Hongchon mine which consisted mostly with magnetite and some pyrite, 38.7% Fe (39.3% of total Fe), 1.1% S, 0.75% P, 2.9% Mn and etc. Through various studies, magnetite concentrate could be successfully yielded up to 60 % Fe concentrate containing 0.22% S and 0.20% P with about 82 % of recovery by wet magnetic separation to grind minus 28 mesh, pyrite flotation concentrate containing up to 40% S with about 65% of recovery to regrind to minus 65 mesh using 200 g/t of copper sulfate, 60 g/t of Z-6, 48 g/t of pine oil and at pH 7 to 7.5.