This paper presents an elastic modulus equation more appropriate for predicting the elastic modulus of structural materials designed for and made of high- and ultra high-strength concrete under current domestic situation in Korea. In order to validate and assess the proposed elastic modulus equation, more than 400 laboratory test data available in the domestic literature on compressive strength of concrete in the range between 400 to 1,000 $kgf/cm^2$ were used and analyzed statistically. Comparison analyses of the proposed elastic modulus equation with previously suggested equations of ACI363R, CEB-FIP, NS3473 and New-RC are also presented to demonstrate its applicability in domestic practice.