In the present study we investigated developmental relations among word reading fluency, listening comprehension, and text reading fluency to reading comprehension in a relatively transparent language, Korean. A total of 98 kindergartners and 170 first graders in Korea were assessed on a series of tasks involving listening comprehension, word reading fluency, text reading fluency, and reading comprehension. Results from multigroup structural equation models showed that text reading fluency was a dissociable construct from word reading fluency for both kindergartners and first graders. In addition, a developmental pattern emerged: listening comprehension was not uniquely related to text reading fluency for first graders, but not for kindergartners, over and above word reading fluency. In addition, text reading fluency was uniquely related to reading comprehension for kindergartners, but not for first graders, after accounting for word reading fluency and listening comprehension. For first graders, listening comprehension dominated the relations. There were no differences in the pattern of relations for skilled and less skilled readers in first grade. Results are discussed from a developmental perspective for reading comprehension component skills including text reading fluency.