Korea was an agrarian society in the pre- modern period It was particularly so during last two dynasties; Koryo arid Chosun. Historically misalignment in the land allocation often led to the collapse of dynasty. Hence, new dynasty is forced to require re-allocation of land resources to gain the justification of the change in power and to reward its loyal participants. This study describes, in detail, the evolution of the land reform, called "Gwajeonbeop", occurred during the early period of Chosun Dynasty and the public and private land ownership structure.