Channels of two transistors are vertically formed on portions of two opposite side surfaces of one active region, and gate electrodes are vertically formed on a device isolation layer contacting the channels of the active region. A common bit line contact plug is formed in the central portions of the active region, two storage node contact plugs are formed on both sides of the bit line contact plug, and an insulating spacer is formed on a side surface of the bit line contact plug. A word line, a bit line, and a capacitor are sequentially stacked on the semiconductor substrate, like a conventional semiconductor memory device. Thus, effective space arrangement of a memory cell is possible such that a 4F2 structure is constituted, and a conventional line and contact forming process can be applied such that highly integrated semiconductor memory device is readily fabricated.