This study quantified the effects of urban greenspace on microclimate amelioration and atmospheric $CO_2$ reduction for several residential districts selected in Korea and Japan. The study also explored fire obstruction by urban trees to develop systematic planting guidelines. Transpiration by a Zelkova serrata tree (diameter at breast height: 15 cm) in a day of August equaled cooling effect of about 3 air conditioners running for 12 hours. Average air temperature for the growing season was 0.5$^{circ}C$ and 1.2$^{circ}C$ cooler, respectively, in districts with 12% and 22% cover of woody plants than in a district with no vegetation. Annual $CO_2$ uptake and $O_2$ production by woody plants were 3 times greater in a district which was 2 times higher in their cover. Woody plants played, in a district with their 22% cover, an important role through offsetting total $CO_2$ emission from the district by about 3% annually, and through producing 10% of annual $O_2$ requirement by all residents within the district. Appropriate planning strategies of residential greenspace, including species selection, planting layout, greenspace enlargement, and maintenance were suggested to improve microclimate amelioration, air purification, and fire obstruction.