A review is made of circulation and currents in the southwestern East/Japan Sea (the Ulleung Basin), and the Korea/Tsushima Strait which is a unique conduit for surface inflow into the Ulleung Basin. The review particularly concentrates on describing some preliminary results from recent extensive measurements made after 1996. Mean flow patterns are different in the upstream and downstream regions of the Korea/Tsushima Strait. A high velocity core occurs in the mid-section in the upstream region, and splits into two cores hugging the coasts of Korea and Japan, the downstream region, after passing around Tsushima Island located in the middle of the strait. Four-year mean transport into the East/Japan Sea through the Korea/Tsushima Strait based on submarine cable data calibrated by direct observations is 2.4 Sv (1 Sv = 10 6 m 3 s −1). A wide range of variability occurs for the subtidal transport variation from subinertial (2–10 days) to interannual scales. While the subinertial variability is shown to arise from the atmospheric pressure disturbances, the longer period variation has been poorly understood. Mean upper circulation of the Ulleung Basin is characterized by the northward flowing East Korean Warm Current along the east coast of Korea and its meander eastward after the separation from the coast, the Offshore Branch along the coast of Japan, and the anticyclonic Ulleung Warm Eddy that forms from a meander of the East Korean Warm Current. Continuous acoustic travel-time measurements between June 1999 and June 2001 suggest five quasi-stable upper circulation patterns that persist for about 3–5 months with transitions between successive patterns occurring in a few months or days. Disappearance of the East Korean Warm Current is triggered by merging the Dok Cold Eddy, originating from the pinching-off of the meander trough, with the coastal cold water carried Southward by the North Korean Cold Current. The Ulleung Warm Eddy persisted for about 20 months in the middle of the Ulleung Basin with changes in its position and spatial scale associated with strengthening and weakening of the transport through the Korea/Tsushima Strait. The variability of upper circulation is partly related to the transport variation through the Korea/Tsushima Strait. Movements of the coastal cold water and the instability of the polar front also appear to be important factors affecting the variability. Deep circulation in the Ulleung Basin is primarily cyclonic and commonly consists of one or more cyclonic cells, and an anticyclonic cell centered near Ulleung Island. The cyclonic circulation is conjectured to be driven by a net inflow through the Ulleung Interplain Gap, which serves as a conduit for the exchange of deep waters between the Japan Basin in the northern East Sea and the Ulleung Basin. Deep currents are characterized by a short correlation scale and the predominance of mesoscale variability with periods of 20–40 days. Seasonality of deep currents is indistinct, and the coupling of upper and deep circulation has not been clarified yet.