This study, which is the first, stage of the optimal utilization and sustainable management of Korean forest, is desinged to analyze the forecast wood product markets. For the first step, the supply and demand model of each product is constructed. Long term equilibriums of the products are forecasted based on the models to provide some meaningful information for the efficient utilization of timber resource. Since wood products are not utilized at the final stage of the consumption, derived demand functions from profit maximization problems are estimated. Simultaneous system provides an equilibrium for each product. The outlook says that equilibriums of products heavily depended upon imported log will decrease as a result of increasing import price of log. Consequently it is necessary to exploit domestic timber resource as well as to develop techniques of manufacturing domestic log for the sustainable management of Korean forest.