An impedance matching circuit of a semiconductor memory device performs a ZQ calibration with initial values that reflect an offset error according to variations in a manufacturing process. The impedance matching circuit includes a first pull-down resistance unit, a first pull-up resistance unit, and a code generation unit. The first pull-down resistance unit supplies a ground voltage to a first node, thereby determining an initial pull-down code. The first pull-up resistance unit supplies a supply voltage to the first node, thereby determining an initial pull-up code or a voltage level on the first node. The code generation unit generates pull-down and pull-up calibration codes using the initial pull-down and pull-up codes as respective initial values.