The present study investigated the learners" perceived impact of peer feedback on their learning after one semester"s practicing it in a content course classroom, with additional interests in the influence of personal characteristics in the shaping of their perception and factors underlying their approaches to peer-feedback activities. Participants were 52 Korean college students majoring in TEFL.A survey was administered at the beginning and the end of the semester in search of any possible change in their perception attributable to the actual practicing of peer feedback activities. An interview was also conducted to see how their perception was shaped. Results indicated that, at the end of the semester, the participants significantly more positively perceived the beneficial impact of peer feedback on various aspects of learning. Students with more exposure to peer feedback activities tended to more favorably appreciate its beneficial impact, especially on learning achievement. The significant difference between the extroverted and the introverted about the impact of peer feedback on learning motivation disappeared at the end of the semester, suggesting peer feedback could benefit learners of any personality type. The desire to keep face emerged as the most salient feature underlying the process where peer feedback benefitted the learners.