The purpose of this study was to investigate the structural relationships of variables having a possible impact on L2 unfamiliar real-word and pseudo-word recognition. To do so, L2 phonological awareness(PA), orthographic awareness(OA), and word recognition(WR) tests were administered to 129 Korean EFL students in grade 4. Results showed that L2 PA basically played a critical role in reading out L2 unfamiliar real words and pseudo words. More importantly, L2 OA profoundly contributed much more significant amount of unique variance to L2 unfamiliar real-word and pseudo-word identification, respectively, rather than L2 PA. These findings are substantially compatible with linguistic structure hypothesis that PA is a necessary condition for WR (Wagner, & Torgesen, 1987) and orthographic depth hypothesis that WR heavily relies more on OA than PA in deep orthographic languages such as English (Katz, & Frost, 2001).