Study of the background and state of Osaka's waterfront space development and analysis of the functions of 22 chosen major facilities of development project reveals the following four types: amenity-oriented development, large-scale synthesis type development, renewal compound area type development, exchange communication promotion type development. Osaka bay area has served primely as the base of harbors, industry and energy, while analysis of the ongoing project has found that the city has been making a functional transition to a type of development to live up to the needs of the times, suggesting that is wise that Korea's future direction of waterfront development be oriented toward environmental-friendly development by taking advantage of low-density area's natural resources. Given the plurality and complexity of the law of coastal zone, what is needed is a legal maintenance for coastal zone's clear-cut coordinating function and for environmental-friendly development with the limitations of seaside and coastal functions in mind.