"SaCheolNaMu" has been used as a Korean folk medicine for the jaundice, lumbago and uterine diseases. Although a crude drug related to this folk medicine is sold in traditional herbal market, the botanical origin of this drug has not been pharmacognostically confirmed yet. In this study, the morphological and anatomical characteristics of the stem of Euonymus species growing in Korea, i.e. Euonymus japonica and E. fortunei var. radicans were studied to clarify the botanical origin of "SaCheolNaMu". As a result, it was found that these two species could be discriminated by the morphological criteria such as the thickness of cuticles, the number of collenchyma cell layers, and the frequency of druse and resinous substance. According to these criteria, it was elucidated that the commercial folk medicine "SaCheolNaMu" was the stem of E. japonica. Meanwhile, HPLC-DAD analysis on the 70% ethanolic extracts of two species showed significantly different HPLC profiles each other. The molecular ions of three characteristic peaks shown in the chromatogram of two species were identified by ESI-MS, and their structures were estimated to be flavonol glycosides.