In this study , we have investigated leaching characteristics of heavy metals and alkalinity centering around steel mill slags by several extraction methods, for the purpose of risk assessment that exert influence on environment and offer of the foundation data of reuse by slags. Korean standard method, U.S.EPA Extraction Procedure, alkalinity extraction test and 9 step sequential fractionation experiment by Miller et al. were carried out for investigating teachability of steel mill slags. As a result of this experiment, heavy metals were little detected and it was considered that alkalinity does not exert a bad effect around environment in slabs with large particle size. By the result of 9 step fractionation experiment, heavy metal contents in slags were not plentiful, in addition, even comparatively plentiful contended heavy metals, for the most part, were likely to detained or bonded in silica matrix. Therefore, in case of slags with large particle size, it seems that teachability of heavy metals were next to impossible that is existed as a safety condition.