Backgrounds: Recent studies showed late catch-up phenomenon could occur after drug-eluting stent implantation. But the incidence and risk factors are not known. Methods: In the COACT registry data, we selected patients who had undergone PCI with first-generation DES (Cypher, Taxus) or second-generation DES (Endeavor, Xience) and undergone follow-up angiography at 6 to 12 months or 13 to 36 months. We analyzed baseline clinical characteristics (age, sex, BMI, ejection fraction, renal failure, hypertension, diabetes and smoking) and angiographic data (location of the target vessels and lesion characteristics). Results: 2172 patients (mean age, 61.0 짹 12.0) underwent angiographic follow-up at 6 to 12 months, and 568 patients (mean age, 62.7 짹 10.7) underwent at 12 to 36 months. The incidence of late catch-up phenomenon at 6 to 12 months was 9.71% in first-generation DES and 7.97% in second-generation DES. The incidence at 13to 36 months was 10.86% in first-generation DES and 9.17% in second-generation DES. There was no significant difference between first- and second-generation DES (p = 0.105 at 6 to 12 months, 0.538 at 13 to 36 months). Risk factors of late catch-up phenomenon at 6 to 12 months were LAD bifurcation lesion (p = 0.001, OR = 1.22). Risk factors of late catch-up phenomenon at 13 to 36 months were hemodialysis (p = 0.015, OR = 2.59) and insulin-requiring diabetes (p = 0.009, OR = 1.64). Conclusions: Late catch-up phenomenon occurs in both first- and second-generation DES with no significantly different incidence. Risk factors of late catch-up phenomenon are different between at 6 to 12 months and 13 to 36 months.