This work examines the vocabulary of the contemporary Korean language, with special emphasis on its composition (original Korean words, a thick layer of Sino-Korean words and adoption of foreign lexis). A key part of the book is the chapter on word derivation using compounds, affixation and the honorification system, complemented by numerous examples. Special attention is paid to language purification and the growing linguistic divergence between the two parts of divided Korea. This book is intended for students of Korean studies, but may also be useful to experts in general and comparative linguistics.