This study was conducted to evaluate forest carbon cycling and soil $CO_2$ efflux rates in a 42-year-old pine (Pinus densiflora) stand located in Hamyang-gun, Korea. Aboveground and soil organic carbon storage, litterfall, litter decomposition, and soil $CO_2$ efflux rates were measured for one year. Estimated aboveground biomass carbon storage and increment in this stand were $3,250gC/m^2;and;156gC;m^{-2}yr^{-1}$, respectively. Soil organic carbon storage at the depth of 30 cm was $10,260gC/m^2$ Mean organic carbon inputs by needle and total litterfall were $176gC;m^{-2}yr^{-1};and;235gC;m^{-2}yr^{-1}$, respectively. Litter decomposition rates were faster in nne roots less than 2 mm diameter size ($<220;g;kg^{-1}yr^{-1}$) than in needle litter ($<120;g;kg^{-1}yr^{-1}$). Annual mean and total soil respiration rates were $0.37g;CO_2m^{-2}h^{-1}$ and $2,732g;CO_2m^{-2}yr^{-1}$ during the study period. A strong positive relationship existed between soil $CO_2$ efflux and soil temperature (r=0.8149), while soil $CO_2$ efflux responded negatively to soil pH (r=-0.3582).