The goal of this paper is to investigate how new words are produced in Korean and to analyze two word-formation processes, truncation and blending within the framework of Correspondence Theory. Two word-formation processes have common characteristics: first, they have the minimal requirement that new words have at least two syllables. Second, in the word-formation process, exceptional cases can be dealt within the core-periphery structure suggested by Ito and Mester (1995). Finally, the word-formation processes in Korean show much more simplistic patterns than in English or even English loanwords in Korean. In the truncation analysis, all morphemes should be involved in the process and in case of loanword truncation, it matters whether truncated words are listed in the English lexicon. Unlike English blending, the existence of sharing segments or the role as a switch point of feet or sub-syllables do not play a crucial role in the analysis. Some other words are created by wrong analogies, typos, and other social reasons.