When it comes to these buildings for business use, cooling load during summertime was reported to have great importance which, as a result, impressively increased interest in Solar Heat Gain Coefficient (SHGC). Such SHGC is considered to be lowered with the help of colors and functions of glass itself, internal shading devices, insulation films and others but basically, these external shading devices for initial blocking that would not allow solar heat to come in from outside the buildings are determined to be most effective. Of many different external shading devices, this thesis conducted an analysis on Exterior Venetian Blind. As for vertical shading devices, previous researches already calculated SHGC conveniently using concepts of sky-opening ratios. However in terms of the Venetian Blind, such correlation is not possibly applied. In light of that, in order to extract a valid correlation, this study first introduced a concept called shape factor, which would use the breadth and a space of a shade, before carrying out the analysis. As a consequence, the concept helped this study to find a very similar correlation. Results of the analysis are summarized as follows. (1) Regarding SHGC depending on the surface reflectance of a shade, an average of 2% error is observed and yet, the figure can always be ignored when it comes to a simple calculation. (2) As for SHGC of each bearing, this study noticed deviations of 4% or less and in the end, it is confirmed that extraction can be achieved with no more than one correlation formula. (3) When only the shape factor and nothing else is used for finding a correlation formula, the formula with a deviation of approximately 5% or less is what one would expect. (4) Since the study observed slight differences in bearings depending on ranges of the shape factors, it needed to extract a weighted value of each bearing, and learned that the smaller the shape factor, the wider the range of a weighted value. The study now suggests that a follow-up research to extract a simple calculation formula by dealing with all these various inclined angles of shade, solar radiation conditions of each region (the ratio of diffuse radiation to direct radiation and others) as well as seasonal features should be carried out.