Abstract. The paper presents an overview on the spin-rooted properties of graphene, supported by numerous experimental and calculation evidence. Correlation of odd p z electrons of the honeycomb lattice meets a strict demand "different orbitals for different spins", which leads to spin polarization of electronic states, on the one hand, and generation of an impressive pool of local spins distributed over the lattice, on the other. These features characterize graphene as a peculiar semimetal with Dirac cone spectrum at particular points of the Brillouin zone. However, spin-orbit coupling (SOC), though small but available, supplemented by dynamic SOC caused by electron correlation, transforms graphene-semimetal into graphene-topological insulator (TI). The consequent topological non-triviality and local spins are proposed to discuss such peculiar properties of graphene as high temperature ferromagnetism and outstanding chemical behavior. The connection of these new findings with difficulties met at attempting to convert graphene-TI (usually taken as SM) into semiconductor one is discussed.