A106 Carbon Steel has recently been used as the material for pipes, nozzles, and tank shells in nuclear power plants. Its corrosion resistance gives the steel many advantages for use in structures under high temperature and high pressure. This steel is also expected to be used as a structural material in the shipbuilding industry for applications involving severe conditions, such as high temperature and pressure. In this study, the mechanical properties of A106 carbon steel were evaluated in regard to its corrosion times. The tensile and yielding strengths decreased as the corrosion time increased. In particular, the tensile strength was influenced by corrosion. In addition, an acoustic emission (AE) technique was used to clarify the microscopic damage to specimens that had undergone corrosion for a certain period. It was found that AE parameters, such as events, energy, duration time, and amplitude were useful for evaluating the degree of damage and remaining life of the corroded specimen. Various properties of the waveform and frequency range were also seen, based on the degree of damage to the specimen from the corrosion time.