The objective of this study is to analyze the market structure and price formation status of imported log from overseas which has leadership of timber price decision mechanism in Korea. The results obtained are as follows; 1) The 53 percents of the total 134 log importing companies are the small scale companies which import less than ten thousand cubic meters per year, and are mainly aimed to do agent task of importing log. 2) The market structure of imported log formed high level 01 oligopolistic structure, but did not make excess profit of oligopoly because of excess import. 3) The bargaining power of Korea on the price decision process in the overseas log exporting market is very weak, because the market has the bilateral oligopoly structure, and the non-systematic importing behavior of Korean log importing companies make the bargaining power of Korea more weak. 4) It is analyzed that Korean domestic marketing system is comperatively simple, but reasonable marketing system is not established because of the disorder of the marketing behavior. From the results obtained above, it is proposed that the government has to establish the general institutional system to control the supply-demand and marketing problems of imported log, in order to establish the rational structure of market and price decision system of imported log.