This study compared carbon (C) and nitrogen (N) distribution at a stand level in an exotic Japanese cedar (Cryptomeria japonica D. Don) plantation and a natural Serrata oak (Quercus serrata Murray) stand growing under similar site conditions in South Korea. The aboveground biomass (stems, branches, and leaves) of 20 trees (10 of each species), the forest floor, and the mineral soils to a depth of 30 cm were sampled to determine C and N concentrations. Except in branches, C concentrations were significantly higher (p < 0.05) in the Japanese cedar plantation than in the Serrata oak stand, whereas N concentrations, except in the stem bark, were significantly lower in the Japanese cedar plantation. Reforestation with an exotic coniferous species significantly increased the C stocks in the aboveground biomass and the N stocks in the forest floor and mineral soils compared with a natural oak stand. The N stocks in the aboveground biomass were dependent on either the N concentrations or the C stocks in the tree components, whereas soil C and N stocks were negatively related to soil fertility parameters such as C/N ratio. Although it is uncertain which factors are responsible for the difference in aboveground C and soil N stocks following the establishment of Japanese cedar plantations on former natural Serrata oak stands, tree replacement may have an impact on C and N allocation within different forest compartments.