The Cheju Current (CC), defined here as a mean eastward flow in the Cheju Strait, mostly carries water of high temperature and salinity originating from the Kuroshio in winter and spring, the Cheju Warm Current Water (CWCW). The strong core of the eastward component of the CC is found close to Cheju Island (Cheju-Do, hereafter) in winter and spring with a peak speed of about 17.0 cm/s. The eastward flow weakens towards the northern Cheju Strait, and a weak westward flow occurs occasionally close to the southern coast of Korea. The volume transport ranges from 0.37 to 0.45 Sv(1 Sv=10$^6$ m$^3$/s) in winter and spring. Seasonal thermocline and harocline are formed in summer and eroded in November. The occurrence of the CWCW is confined in the southern Cheju Strait close to Cheju-Do below the seasonal thermocline in summer and fall, and cold water occupies the lower layer north of the CWCW which is thought to be brought into the area from the area west of Cheju-Do along with the CWCW. Stratification acts to increase both the speed of the CC with a peak speed of greater than 30 cm/s and the vertical shear of the along-strait currents. The strong core of the CC detached from the coast of Cheju-Do and shifted to the north during the stratified seasons. The volume transport in summer and fall ranges 0.510.66 Sv, which is about 1.5 times larger than that in winter and spring. An annual cycle of the cross-strait sea level difference shows its maximum in summer and fall and minimum in winter and spring, whose tendency is consistent with the annual variability of the CC and its transport estimated from the ADCP measurements. Moored current measurements west of Cheju-Do indicate the clockwise turning of the CC, and the moored current measurements in the Cheju Strait for 1530 days show the low-frequency variability of the along-strait flow with a period of about 37 days.