The Ionospheric Anomaly Monitoring by Magnetometer And Plasma-probe (IAMMAP) is one of the scientific instruments for the Compact Advanced Satellite 500-3 (CAS 500-3) which is planned to be launched by Korean Space Launch Vehicle in 2024. The main scientific objective of IAMMAP is to understand the complicated correlation between the equatorial electro-jet (EEJ) and the equatorial ionization anomaly (EIA) which play important roles in the dynamics of the ionospheric plasma in the dayside equator region. IAMMAP consists of an impedance probe (IP) for precise plasma measurement and magnetometers for EEJ current estimation. The designated sun-synchronous orbit along the quasi-meridional plane makes the instrument suitable for studying the EIA and EEJ. The newly-devised IP is expected to obtain the electron density of the ionosphere with unprecedented precision by measuring the upper-hybrid frequency (fUHR) of the ionospheric plasma, which is not affected by the satellite geometry, the spacecraft potential, or contamination unlike conventional Langmuir probes. A set of temperaturetolerant precision fluxgate magnetometers, called Adaptive In-phase MAGnetometer, is employed also for studying the complicated current system in the ionosphere and magnetosphere, which is particularly related with the EEJ caused by the potential difference along the zonal direction.