The effect of polymeric diphenyl methane-4,4-diisocyanate (pMDI) or 1,6-hexamethylene diisocyanate (HDI) in the UMF resin was discussed for improvement of the dry and wet shear strengths of plywood manufactured from high moisture content veneers. The curing behavior of UMF resin by pMDI or HDI content was examined by DSC and TGA, and its adhesion performance was evaluated by dry and wet shear strength tests of plywood. With the increase of pMDI content in the UMF resin, the curing temperature, reaction enthalpy (${Delta}H$), and thermal stability consistently increased. With the increase of HDI content in the UMF resin, however, the curing temperature and reaction enthalpy (${Delta}H$) decreased consistently and the thermal stability slightly increased in the range of 200 to $400^{circ}C$ but decreased beyond $400^{circ}C$. Also, the dry tensile shear strength increased up to the pMDI content of 5% and then decreased with its further addition but the wet tensile shear strength showed slight tendency to increase with the increase of pMDI content in the UMF resin. As the HDI content increased, however, the dry and wet tensile shear strengths of plywood consistently increased.