The purpose of this study was to investigate and quantitatively describe the acoustic characteristics of current Korean monophthongs. Recordings were made of 33 men and 27 women producing the vowels /i, e, ${epsilon}$, a, ${partial}$, o, u, i/ in a carrier phrase "This character is ___." A listening test was conducted in which 19 participants judged each vowel. F1, F2, and F3 were measured from the vowels judged as intended vowels by more than 17 people from the listening test. Analysis of formant data shows some interesting results including the undeniable confirmation of the 7-vowel system in modern Korean. It turns out that quite different sounding Korean vowels and English vowels happen to have very similar formant measurements. Also the difference between "citation-form reading" vs. "natural utterance reading" is discussed.