This study investigated how Korean toddlers’ perception of stop categories develops in the acoustic dimensions of VOT and F0. To examine the developmental trajectory of VOT and F0 in toddlers’ perceptual space, a perceptual identification test with natural and synthesized sound stimuli was conducted with 58 Korean monolingual children (aged 2–4 years). The results revealed that toddlers’ perceptual mapping functions on VOT mainly in the high-pitch environment, resulting in more successful perceptual accuracy in fortis or aspirated stops than in lenis stops. F0 development is correlated with the perceptual distinction of lenis from aspirated stops, but no consistent categorical perception for F0 was found before four years of age. The findings suggest that multi-parametric control in perceptual development guides an acquisition ordering of Korean stop phonemes and that tonal development is significantly related to the acquisition of Korean phonemic contrasts.