The paper deals with two systems: democracy as political system and marketeconomy as economic system. In discussing two systems three questions areraised: firstly, what are democracy and market economy? secondly, how welldoes the Korean Constitution incorporate the spirit of democracy and marketeconomy? thirdly, are democracy and market economy compatible each other?Answers provided to the questions raised above are: first, while general publicin Korea understand well democracy, even scholars and experts in Korea arevery poor in understanding the nature of market economy. second, the KoreanConstitution incorporates quite well the spirit of democracy but nevertheless thespirit of capitalistic free market economy is poorly incorporated. to put it simplyso many anti-capitalistic regulations are found in the Korean Constitution. third,the paper explains why democracy and market economy are basically notcompatible. So many social and economic problems facing Korea have somethingto do with above three questions and answers. Furthermore the paper deals withmore questions such as: why government cannot solve so many economicproblems?, why general public are not satisfied with government policies?, andhow much improvement one expects in revising economic articles ofConstitution?