Olibrus Erichson, 1845 and Olibrus particeps Mulsant & Rey, 1861 (Coleoptera: Cucujoidea: Phalacridae) are reported from Korea for the first time and historical review of the taxonomic position of this genus is provided. The genus Olibrus Erichson is one of the common phalacrid beetles being widely distributed throughout the world. This genus is easily distinguished from other phalacrid genera by combination of the following characters: Antennae inserted at sides of front, base visible from above; Last segment of antenna softly indented; Basal metatarsomere shorter than second; Elytral surface very polished. O. particeps was found in Andong-si and Yeongju-si, Gyeongsangbuk-do of Korea, bringing the number of species within the Korean Phalacridae to 2 species. In this study, we provide a redescription of O. particeps Mulsant & Rey, and illustrations of its genitals and other appendages.