Species boundaries are not always straightforward, especially during early stages of divergence, when gene flow may still take place. Nipponocypris koreanus, a widely distributed freshwater fish species endemic to Korea, was recently classified as a separate species from its relative Nipponocypris temminckii. However, morphological differences between the two species are ambiguous and genetic differences between and within species remain largely unexplored. In this study, using mitochondrial DNA cytochrome oxidase I (COI), control region (CR) and our developed 9 microsatellite loci, we determined phylogenetic relationships and population genetic structure of N. koreanus among geographically separated six river basins in comparison with N. temminckii. We found that N. koreanus evolved relatively well-separated clades in each basin, and that some morphologically N. koreanus individuals were genetically N. temminckii, suggesting the possibility of natural hybridization between the two species. Nipponocypris koreanus individuals from the Nakdong and Seomjin Rivers are the most closely related to N. temminckii, and they probably represent cryptic species complex as they showed a genetic distance of 2.2~2.9%, although N. koreanus had a distinct genetic structure. Comparisons of the whole mitogenomes from different rivers further support the notion that the Nakdong and Seomjin River populations constitute cryptic species in N. koreanus rather than a single species. The results of this study will shed an intriguing insight into understanding how Korean freshwater fishes have evolved in response to geographically isolated major river/stream environments. The evolutionary mechanisms underpinning the cryptic species diversity in freshwater systems are worth to be further studied.