This study was conducted to determine the effect of low temperature and low radiation conditions on the yield and quality of hot pepper at an early growth stage in Korea. In plastic greenhouses, low temperature, low temperature with covered shading treatments were set 17 to 42 days after transplanting. The pepper growing degree days decreased by 5.5% due to the low temperature during the treatment period. Radiation decreased by 74.7% due to the covered shading. After commencing treatments, pepper plant growth decreased with low temperature and low radiation. Analysis of the yield showed that the first harvest was delayed by low radiation. The cumulative yields of 119 days after transplanting were 1,956, 2,171, and 2,018 g/m2 for control, low temperature, and low temperature with low radiation respectively. Capsaicin and dihydrocapsaicin concentrations in pepper fruit decreased with low temperature and low radiation. To investigate the photosynthetic characteristics according to the treatment, the carbon dioxide reaction curve was analyzed using the biochemical model of photosynthesis. Results showed that the maximum photosynthetic rate, Vcmax (maximum carboxylation rate), J (electric transportation rate), and TPU (triose phosphate utilization) decreased at low temperatures; the maximum photosynthetic rate, J, and gm (dark respiration rate) were reduced by shading. These results indicate that low temperature and low radiation can retard early growth, yield, and quality, but these can also be recovered 119 days after planting. Based on the results, the yield and quality of pepper can recover from abiotic stresses with proper cultivation.