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This paper aims to study the exact state of affairs of borrowed words on the basis of broadcasting and newly coined language data and then to reveal how the borrowed words are formed morphologically. According as young generation has much more knowledge of borrowed words, borrowed words seem to gradually replace the role of Sino-Korean words in the realim of newly coined words. Sino-Korean and borrowed words have some difference in the inflowing process, but in the course of being settled down in the Korean lexical system they have in common the type of word-formations. In this regard this paper studied the process how new words could be made in terms of their functions in the lexical system. Even though borrowed words were used as derivatives or compounds, they usually be imported into Korean as the status of simple words. Some of the newly coined words are made of elements of borrowed words which are formed by the process of clipping. Most of clipped simple words are formed by clipping the rear part of words. ‘내비게이션→내비, 다큐멘터리→다큐, 프로페셔널→프로’ are representatives. And the adjectives in English are imported into Korean as bound roots. ‘클리어(clear), 스피다(speedy), 리드미컬(rhythmical)’are representatives. These words should be combined with ‘-hada’ in Korean. As for borrowed words there aren't many derivatives made of foreign affixes. ‘-틱(←tic), -이즘(←ism)’ can be functioned as suffixes but this kind of affixes are rare. But some foreign words can be changed into affixes in the course of settling down in the Korean lexical system. ‘맨(←man), 룩(←look), 노(←no)’ are good examples. These words function as affixes in the formation of newly coined words. On the other hand, the formation of compounds with borrowed words are active. The first type is borrowed words both elements of which have a word status. The other type is borrowed words some or all elements of which have a root status. There are many words made of borrowed words by the process of blending. This type has been used actively in the realm of newly coined words.