Oceanographic survey data were analyzed to understand the characteristics of a warm eddy observed in the Ulleung Basin in July 2005. The temperature distribution at 200 db and vertical sections provided evidence of the warm eddy in the Ulleung Basin (UWE05). Based on the 5$^{circ}C$ isothermal line on 200 db temperature, the major axis was 160 km from southwest to northeast, and the minor axis was 80 km from southeast to northwest. The homogeneous layer in the thermocline of UWE05 had mean values of 10.40$^{circ}C$ potential temperature, 34.35 psu salinity, and 26.37 kg/m$^3$ potential density (${sigma}_{ heta}$) and provided evidence that UWE05 also existed during the winter of 2004-2005. A warm streamer initially flowed along the circumference of UWE05 and mixed with the upper central water. Two northward current cores were found on the western side of the measured current section at the central latitude of UWE05. One was the East Korean Warm Current (EKWC) and the other was the main stream of the western part of UWE05. Geostrophic transport of the upper layer (from the surface to the isopycnal surface of 26.9 ${sigma}_{ heta}$) was approximately 2.5 Sv in the eastern side of UWE05. However, the measured transport was twice as large as the geostrophic transport. Mass conservation of geostrophic transport was well satisfied in the upper layer. The direct current measurements and geostrophic transport analysis showed that the EKWC meandered around UWE05.