In the study of iron artifacts, microstructure investigation is an indispensable step to find out the manufacturing method and skill. The iron weapons that we have excavated and investigated at the ruins of Gohyun Castle site, Hadong-gun, Kyungnam Province are traced to the era of Choson Dynasty. By sampling specimens of some artifacts, we have made microstructure investigation and component analysis of them. For microstructure investigation we used metallographic microscopes, and for component analysis we used the methods of C/S analysis and Inductively coupled plasma emission spectrometry (ICP) analysis which is designed to verify components and contenets of a very small amount elememt. Microstructure of the artifacts is mainly divided into three parts. Inner part is Widmanstatten, a typical overheated structure, upon which we can see another part with fine grains and with extremely small quantities of carbon. And on the surface, there is a carbonized part. When the shape is formed through forging process at a high temperature the carbon content of the surface is getting down and the grains come to be finer. Next, carbonizing process is to be done for hardening the surface, which is followed by cooling process. Cooling rates seem to be different from artifacts to artifacts. All artifacts have clearly distinguishable grain boundaries in their unique structure. Since this kind of structure is rarely found, it seems to offer a clue to find out the manufacturing method. The outcome of component analysis is almost the same with that of microstructure investigation. As is demonstrated by C/S analysis, carbon content is 0.39-1.24% and sulfur is contained 0.0005-0.010%.