This experiment was carried out to study the effects of light intensity and soil water regimes on the growth of ginseng seedling. The results were as follows: 1. The maximum light intensity and optimum temperature in 1,le photosynthesis of ginseng seedling were 10,000 lux and 23 $^{circ}C$. Respiration rate was increased at high temperature. 2. Air and soil temperature under the shading were increased as the increase of light intensity but soil water contents were decreased as the increase of light intensity, whereas air and soil temperature were decreased as the increase of precipitation under the shade b5: soil water contents were increased as the increase of precipitation under the shade. 3. The higher the transmittance of the shade, the greater the specific leaf weight (S.L.W.) and stomatal density. In contrast, however, the contents of total chlorophyll, chlorophyll a and b, and stomatal length was decreased. There was no any significant difference light intensity of the a/b ratio of chlorophyll. 4. The highest photosynthesis was occurred in ginseng leaves grown under the shade 5% L.T.R. and net photosynthesis rates increased with increasing soil water contents. 5. Optimum condition for usable seedling yield were 5% L.T.R. and 3.3% precipitation under the shade. Useless seedling increased with increasing precipitation under the shade.