Genetic parameters for growth and carcass traits were estimated on the basis of the data from 3,415 heads of Hanwoo bulls tested at Livestock Improvement Main Center. The data were divided into two groups : the first period group consisted of 1,592 heads of bulls tested in individual pens from 1986 to 1990 and the second period group consisted of 1,823 heads of bulls tested in group pens from 1991 to 1996. The testing period was from 6 to 18 months of age in the first period group and 10 to 22 months of age in the second period group. The average daily gains during 6 to 12 months and 12 to 18 months were 1.01kg and 0.77kg, respectively, in the first period group and 0.80kg and 0.95kg in the second period group, and the compensated growth appeared to have occurred in the second period group. The heritability of body weight at 12 months estimated was 0.37 during the first period and 0.47 during the second period. The heritability of body weight at 18 months was 0.29 during the first period and 0.33 during the second period. The heritability of average daily gain during 6${\sim}$12 months estimated was 0.26 for the first period and 0.33 for the second period. The heritability of average daily gain during 12${\sim}$18 months estimated was 0.11 for the first period and 0.22 for the second period. The heritabilities of body weights and average daily gains estimated tended to be higher in the second period than in the first period. The heritability of body measurements at 12 months during the first period estimated was 0.30 for withers height, 0.25 for rump height, 0.11 for thurls width and 0.13 for chest girth. The heritability of body measurments at 12 months during the second period was 0.53 for withers height, 0.44 for rump height, 0.36 for thurls width and 0.56 for chest girth. The heritabilites of withers height, rump height, thurls width and chest girth at 18 months of age were 0.40, 0.22, 0.12 and 0.21 during the first period and 0.45, 0.42, 0.42 and 0.35 during the second period, respectively. The heritability of carcass traits estimated during the first period was 0.11 for carcass weight, 0.24 for dressing percent, 0.25 for eye muscle area, 0.18 for backfat thickness and 0.21 for carcass length. The heritabilities of carcass weight, dressing percent, eye muscle area, backfat thickness, carcass length and marbling score during the second period estimated were 0.32, 0.52, 0.33, 0.51, 0.58 and 0.31, respectively. The genetic correlations between the first and second periods estimated were higher than 0.8 for chest girth at 12 months, rump height at 18 months, carcass weight and dressing percent, but were lower for other traits.