The development of domestic plant specific emission factors is very important to estimate reliable national emissions management. This study, for the reason, was carried out to obtain advances emission factor for Carbon Dioxide ($CO_2$) by source-specific emission tests from the iron and steel industry sector which is well known as one of the major sources of greenhouse gases ($CO_2$). Emission factors estimated in this study were compared with those of IPCC for evaluation and they were found to be of similar level in the case of $CO_2$. There was no good information available on $CO_2$ plant specific emission factors from the iron and steel industry in Korea so far. The major emission sources of $CO_2$ examined from the iron and steel manufacturing precesses were a hot blast stove, coke oven, sintering furnace, electric arc furnace, heating furnace, and so on. In this study, the concentration of $CO_2$ from the hot blast stove process was the highest among all processes. The $CO_2$ emission factors for a ton of Steel and Iron products (using B-C oil) were estimated to be 0.315 $CO_2$ tonne (by Tier 3 method) and 4.89 $CO_2$ tonne. In addition, emission factor of $CO_2$ for heating furnace process was the highest among all process. Emission factors estimated in this study were compared with those of IPCC for evaluation and they were found to be of similar level in the case of $CO_2$.