For a design of rocket engine nozzle, chemical equilibrium analysis which shares the same numerical characteristics with frozen flow analysis can be used as an efficient design tool for predicting maximum thermodynamic performance of the nozzle. 10 this study, a chemical equilibrium flow analysis code was developed for the design of hydrocarbon fueled rocket engines. 10 oder to understand the thermochemical characteristics occurring in a nozzle through the expansion process, such as recombination of chemical components and the accompanying energy recovery, chemical equilibrium flow analysis was carried out for the KSR-III rocket engine nozzles together with frozen flow and non-equilibrium flow analyses. The performance evaluation based on the present KSR-III nozzle flow analyses has provided an understanding of the thermochemical process in the nozzle and additionally, it has confirmed that the newly designed nozzle shape modified to have a reduced exit area ratio is an adequate design for obtaining an increased ground thrust.