Five core sediments acquired from the Lake Shihwa are analyzed for variations of sedimentary environment and heavy metal pollution after the Shihwa seawall construction. The depositional environment of the study area is divided into anoxic, oxic and mixed suboxic conditions based on the C/N ratio and C/S ratios of organic matters. Controlling factors for redox condition are the water depth and the difference in industrial effluents supply. Correlations among geochemical elements (Mn, U, Mo) show a distinctive difference and thus can be used as an indicator of redox condition. The content of Al, Ti are dependent on the sediment characteristics, and the contents of heavy metals (Cr, Ni, Cu, Zn, and Pb) indicate heavy metal pollution. The concentrations of heavy metals are higher near Shiswa-Banwol industrial complexies than the central part of Lake Shihwa. Especially, the accumulation of the heavy metal at the surface sediments near Shihwa-Banwol industrial complex are two to eight times higher than in the center of Lake Shihwa.