Grotesque is possessing a possibility of establishing as an aesthetics. Especially, so called Grotesque Realism, the Modern Poetry had newly adopted the style of our traditional popular literatureㆍpopular arts, such as a ponsori and madang-guk. By acculturating those, it blazed a trail to an unique realm of aesthetic in the field of Modern Korean Poetry. Grotesque Realism as cosmical dynamics of life in an entangled and mixed with bodies, presented in Jilmajae myth , Seo Jung-ju's anthology, or a critical satire against society and politics of the time by modernistic acculturation of a ponsori, our traditional popular literature, presented in Kim Ji-ha's 『O-juck』 are creating a field of unique aesthetics, having close affinity with grotesque phenomenon, as well as a laugh and vein of humor. Also, by adopting alienation about Ki Hyung-do's death and the modernistic grotesque as a fear or civilized city's grotesque caused by human desire, mentioned by Choi Seong-ho, as an oriental principle of nothing, blind side, and vacancy, an investigation of a cosmical principle of life exists as a possibility of Modern Korean Poetry. No matter whether the grotesque, exposed by these poets, is realistic or modernistic, it is important to have the tension and reflection for the reality of the time and be aware of the cosmical principle of life. It means creating new Grotesque Aesthetics that is able to heal all injustice of the reality and absence of prospect. A gloomy nihilism is just a product of agony of self-pity and in order to lead a way to more productive aspect, we poets should recover a sense of ethic to which Grotesque Aesthetics hold on.