The structures of reinforced concrete have been extensively increased with rapid development of industrial society. Futhermore, these reinforced concretes are easy to expose to severe corrosive environments such as seawater, contaminated water, acid rain and seashore etc.. Thus, corrosion problem of steel bar embedded in concrete is very important in terms of safety and economical point of view. In this study, specimens having six different coating thickness (W/C:0.5) were prepared and immersed in flowing seawater for five years to evaluate the effect of coating thickness and immersion time on corrosion property. The polarization characteristics of these embedded steel bars were investigated using electrochemical methods such as corrosion potential, anodic polarization curve, and impedance. At the 20-day immersion, the corrosion potentials exhibited increasingly nobler values with coating thickness. However, after 5-yr. immersion their values were shifted in the negative direction, and the relationship between corrosion potential and coating thickness was not shown. Although 5-yr. immersion lowered corrosion potential, 5-yr. immersion did not increase corrosion rate. In addition, after 5-yr. immersion, the thinner cover thickness, corrosion current density was decreased with thinning coating thickness. It is due to the fact that ease incorporation of water, dissolved oxygen and chloride ion into a steel surface caused corrosion and hence, leaded to the formation of corrosion product. The corrosion product plays the role as a corrosion barrier and increases polarization resistance. The corrosion probability evaluated depending on corrosion potential may not be a good method for predicting corrosion probability. Hence, the parameters including cover thickness and passed aged years as well as corrosion potential is suggested to be considered for better assessment of corrosion probability of reinforced steel exposed to partially or fully in marine environment for long years.