Two new species of Martensia (Delesseriaceae, Rhodophyta) are described from Jeju Island, Korea. Martensia palmata sp. nov. is characterized by the following traits: more or less linearly elongated lobes arising from the distal margin of the flabellate membranous section; intact latticework with coarse and loose mesh; numerous spine-like projections on the leading margin of the latticework; tetrasporangia produced in sori along the entire blade; spermatangia borne in sori on the membranous section and the longitudinal lamellae of the latticework; and cystocarps borne on the margins of the membranous section. Martensia projecta sp. nov. has the following characteristics: subdichotomously furcated blades, with terminal segments slightly attenuated toward the apex; blades with uneven surfaces; basal parts with a multi-layered parenchymatous construction; small and poorlydefined latticework; tetrasporangia and spermatangia produced in sori on the membranous section; and cystocarps borne on the marginal surfaces of the blades. The existence of M. projecta sp. nov. supports the proposal that the genus Opephyllum Schmitz in Schmitz et Hauptfleisch should be assigned to the genus Martensia.