The $CO_2$ welding with 100% $CO_2$ shielding gas is commonly used because of its cost and efficiency. Arc phenomena of the $CO_2$ welding is influenced by various factors such as chemical compositions of welding wire, shielding gas, welding condition and welding power source etc. In this study, arc phenomena is investigated by using two type of FCW(titania type, semi-metal type). Then, the welding quality and optimum welding condition can be selected. From this study, the following results were obtained; 1) In low current range(140A), FCW up to welding voltage(22V) resulted in a typical short circuit transfer. 2) In high current range(320A), the arc stability in titania FCW of a typical globular transfer is better than that of semi-metal FCW.