This study was conducted to compare the lipid content and fatty acid composition of the Korean breast milk produced at 1, 2 and 3 months postpartum with the infant formula produced in Korea. The content of total lipids of the breast milk was low compared with the other data of Korean as well as foreign breast milk, and the content tended to reduce during the progress of lactation. The composition of fatty acids of the breast milk was characterized by low saturated fatty acids(SFA) and high $omega$3 series of polyunsaturated fatty acids (PUFA), especially 20:5 and 22:6, so the P/S and $omega$6/$omega$3 rations were high. The formulas had more total lipids, triglycerides(TG) and phospholipids and less cholesterol(CHOL) and free fatty acids than the breast milk. The cholesterol content of the formulas was around 50% of that of the breast milk, so the CHOL/TG ratio was low. Although the formulas varied in fatty acid composition, the formulas had more SFA and $omega$6 series of PUFA, but less monounsaturated fatty acids and $omega$3 series of PUFA than the breast milk. This study shows that there are some differences in lipid content and fatty acid composition between breast milk and infant formula. Therefore, further studies needed to investigate the physiological effect of this difference on lipid metabolism of infants.