In this study, alkali-activated slag (AAS) concrete made with blast furnace slag (BFS) was investigated as a replacement for ordinary Portland cement (OPC) concrete for changes in the compressive strength before and after CO2 exposure and chemical reactions with CO2. Before CO2 exposure, the compressive strength of AAS concrete was found to be up to 21 MPa, which was higher than that of OPC concrete. Exposing AAS concrete to CO2 at 5,000 ppm for 28 days did not significantly change the compressive strength. In contrast, the compressive strength of OPC concrete decreased by 13% in the same conditions. In addition, AAS concrete had the highest CO2 capture capacity of greater than 50 g CO2/kg, while the CO2 capture capacity of OPC concrete was only 2.5 g CO2/kg. Rietveld analyses using XRD results showed that fractions of main calcium-silicate-hydration (C-S-H) gels on the surface of AAS concrete did not significantly drop after CO2 exposure; the C-S-H gel on the AAS concrete was continuously produced by reacting with the SiO2 produced after the reaction with CO2 and Ca(OH)2 inside the concrete, with the result that the compressive strength of AAS concrete did not change after CO2 exposure. Thus, AAS concrete can be applied to CO2-rich environments as both a stable construction material and a CO2 sequestrate agent.