This study aims to explore how the vocabulary size and affective variables effect fluency in English speaking of Korean English learners. In total, 42 university students participated in the study and filled out the questionnaires developed to measure affective variables (WTC, learning motivation, self-efficacy) as well as EIT(Elicited Imitation Test for English speaking) and VST(Vocabulary Size Test). The result from multiple regression analysis revealed that both VST and affective factors were found to have a strong correlation with EIT. One-way ANOVA analysis showed that there are significantly statistical differences between the upper and lower groups in VST, affective variables and EIT. There are also statistical differences between the upper and lower groups in the degree of influence of affective factors, VST and EIT. In the upper group, VST and affective factors had a weaker influence on EIT whereas, in the lower group, they had a greater influence on EIT. Particularly the degree of influence of affective factors on the lower group was stronger than that of the upper group.