As a way to revive the traditional technology of Korean golden varnish(Hwangchill), the exudates of D. morbifera, this study was carried out at first to investigate the anatomical characteristics and the chemical composition of D. morbifera stems and their exudates. Trees of more than 20 years old were harvested at Wando and Jejudo islands in the southwestern part of Korean peninsula during different physiological seasons of winter, spring, and summer, The results obtained are as follows: 1. In the anatomical aspect of wood, Hwangchil woods is ring-porous wood, has alternate inter-vessel pittings and horizontal intercellular canal in xylem. 2. In the chemical aspect of wood and bark, the general compositions appeared hot to differ from those of other hardwoods, and ash and alcohol-benzene extractives showed little increase with the increase of atmospheric temperature of harvesting season. 3. In the solvent-sequential extraction of bark, wood and exudate, the exudates was extracted up to 80% by ether, but the bark and wood contained a very small amount of ether extractives, about 2% in the bark and 0.5% in the xylem.