Trot is a type of popular song that has been overshadowed by prejudices against “Japanese style” and “frivolity”, and thus has not been properly evaluated. Considering the fact that trot is still sung today, there must be some reason for its continued vitality. This study, therefore, aims to uncover the identity of trot through an analysis of the external and internal situations in its lyrics. The standards by which identity may be judged include currentness, popularity and subjectivity. Applying these three standards to trot, it was found that trot has embraced the identity of Korea. Following this, the lyrics of trot songs were examined, centering on the sentiments of the poetic ego. As a result of this examination, it appeared that the greatest number of songs expressed “sentiments of yearning and nostalgia”, while a significant number expressed “sentiments of joy and delight”. This revealed the need to rectify the conventional perception that the words of popular songs under the rule of Japanese imperialism grieved the people. Furthermore, this study looked into persistence and variation of tradition in trot sung from the Japanese colonial period until today. Through a comparison of trot and folk music, it was discovered how the traditional elements were revived and changed in terms of poetic language, rhetorical devices and sentiments. As a result, it was revealed that the feelings of yearning and nostalgia arising from the absence of im (a lover) were inherited from Korean traditions, and past-oriented attitude toward im and the passivity of the poetic ego toward im continue on in trot as they did in folk music.