In order to reconstruct the traditional technology of Korean golden varnish(Hwangchil) made from the exudates of D. morbifera, this study in the second step was carried out to analyze the chemical composition and oil properties of the exudates for coatings and bark extractives made from the trees of D. morbifera more than 20 years old grown in Wando and Jejudo islands in the southwestern part of Korean peninsula according to the physiological seasons. The results obtained are as follows: 1. The exudates appeared to be a phytoalexin because it exudated after several days in tapping only in summer season. 2. Both the exudates and bark-extracts with acetone contained 50~60% unsaponifiables and 30~50% saponifiables 3. A major component of essential oil in bark-extractives was ${eta}$-cubebene and reached to 60~80%, while that of exudates included only 34% ${eta}$-cubebene and some other compounds such as ${eta}$-cadinene of 12%, aromadendrene of 9%, ${eta}$-selinene of 9%, CAS030021-74-0 of 10%, etc. in GC-MS spectrometer. 4. A mjor component of fatty oil fraction in bark-extractives was linoleic acid and reached to more than 60%, while the exudates had mostly other components such as terpenes and phenolics instead of fatty acids accordint to GC-MS spectrometer. 5. Iodine value of samples after oil refining had 214mg/g in the exudates and more than than 150mg/g in bark-extractives, so the latter belonged to a drying oil.. 6. Therefore, the exudates from D. morbifera for traditional Korean golden varnish seems to have beeen used to a good varnish because it has some specific compounds different from its bark-extractives or general varnishes.