This paper presents results from a field experiment conducted to analyzewhether gift exchange between employers and workers - a phenomenon inwhich when employers pay higher wages than the market average, workersreciprocate by making more work efforts than the minimum requirement -exists in the Korean labor market, and if so how long it persists. The resultsfrom analyzing the basic data generated, using various methods, indicate thatthe effect of the gift treatment on work efforts is significantly positive, whichis consistent with the gift exchange theory and the results from the previousexperiments conducted abroad. However, there is a difference from theliterature in that the gift treatment effect emerges with some time lag in ourexperiment. This result may be caused by the subjects of our experimenthaving little experience of labor markets or by the lack of chances to createemotional bonds with the employer.