This study was carried out to develop the Korean paper(Hanji) sludge-wood fiber composite boards utilizing the relinquished sludges occurring from the making process of Korean classic paper Hanji. The bark of paper mulberry(Broussonetia kazinoki Sieb.) has been used as a raw material since past hundreds and thousands years. Korean paper(Hanji) sludge was divided into two kinds, the one was the white sludge from the first stage and the other was the black sludge occurring from the final stage of Korean paper(Hanji) making. Four levels of the mixed ratio of each white or black sludge to wood fiber(10:90, 20:80, 30:70 and 40:60), three levels of the resin adhesives(PMDI, urea and phenol resin) and three levels of the density(0.60, 0.75 and 0.90) were designed to investigate the physical properties of Korean paper(Hanji) sludge-wood fiber composite boards. From the results and discussion, it could be concluded as follows : 1. In the white sludge-wood fiber composite board, the thickness swelling was not affected by the specific gravity and sludge additive of composite boards, but among the resin adhesives PMDI resin showed the best dimensional stability. Water absorption was superior in urea resin, secondly PMDI resin and very poor in phenol resin. 2. In the black sludge-wood fiber composite board, thickness swelling was superior in PMDI resin but very poor in phenol resin. In water absorption, PMDI and urea resin showed good results, regardless of specific gravity or sludge additive, but phenol resin showed poor results. 3. From the results and discussion of physical properties it is suggested that the white sludge-wood fiber composite boards bonded with PMDI or black sludge-wood fiber composite boards bonded with urea resin were made possibly with similar or better properties. compared with general fiberboard until the addition of 20% sludge into wood fiber.