The physical and mechanical properties of red shale and black shale exposed in the Daegu area were investigated in tests conducted to determine unit weight, absorption ratio, porosity, ultrasonic velocity, unconfined compressive strength, point load strength, slake durability index, and deterioration characteristics. XRD, XRF, and SEM analyses were also performed on the shale specimens. While the unit weights of the two shales were similar, the absorption ratio and porosity were higher in the red shale than in the black shale. Despite the higher porosity of the red shale, the ultrasonic velocity, compressive strength, and point load strength were higher in the red shale, which is an unexpected result that may be due to the presence of fine laminations in the black shale. The deterioration rate, as determined from the point load strength and the slake durability index, increased with increasing immersion time and with the acidity of the immersion liquid. The deterioration rate was higher for the red shale than for the black shale because of the higher porosity of the former.