The water soluble phosphate flame retardant was synthesized. The fire retardant coating composition was formulated with FR-2001 solution and water soluble paint. The additive amount of FR-2001 solution was varied from 10 to 40 wt% depending on the amount of water soluble paint. Results showed that the flame retardancy of coated plywood incresed as the amount of FR-2001 increased. Flame retardancy effect was excellent even with 20 wt% FR-2001 solution.