This study was carried out to investigate characteristics of plywood overlaid with softwood veneers densified by resin impregnation and compression. The resin impregnability of Korean pine veneer under atmospheric pressure soaking was greater than that of larch, and impregnability of melamine resin was slightly greater than phenolic resin. It was suggested that resin impregnation ratio was affected by density and thickness of veneer. The largest melamine resin impregnation ratio of 50.7% was obtained with 1.26mm thick Korean pine veneer, and the lowest phenolic resin impregnation ratio of 11.7% with 3.41mm thick larch veneer. Therefore, it was suggested that the vacuum-pres sure-soak treatment is required at thick larch veneer. In densifying resin-impregnated veneers, densification ratio from 13.4 to 31.2% was obtained by high pressure from 15.6 to $20.8kgf/cm^2$. Impregnation of melamine resin also showed relatively greater at densification than that of phenolic resin. So it showed the degree of densification of about 20% or greater. It was seemed that adhesive bonding strength of plywood(base panel) which was directly pressed and overlaid with resin-impregnated veneer was affected by resin tackiness after resin impregnation followed by semi-drying. In laboratory scale, melamine resin impregnation was more favorable for the development of adhesive bonding strength owing to moisture control.