In order to control indoor air quality and save energy, it is needed to install a suitable ventilation system equipped with heat exchanger for heat recovery. Paper heat exchanger can recover $50{sim}70%$ of the enthalpy difference between supply and exhaust air. The purpose of this research is to obtain the experimental correlations for the friction factor, heat transfer coefficient, mass transfer coefficient and permeance of paper heat exchanger, which can be used to predict the performance of the paper heat exchanger. Pressure drops at various velocities, and sensible and latent heat transfer rates at various dry-bulb temperatures, relative humidities and specific humidities are measured to derive experimental correlations. The results of prediction using correlations show fairly good agreement with the experimental data obtained in the actual operating conditions.