In Korea, most of coal bottom ash produced by coal power plants is being disposed to the ash pond as slurry, and more than 80% of the coal power plant sites are occupied for the storage of the huge quantity of ash, which leads to environmental problems and managerial burden for plant operators. In this study, investigations were taken to develop a beneficiation process for separating the coal pond ash into valuable products for various applications. To determine the characteristics of the bottom ash stored in an ash pond, core samples were taken through the pond. These samples were then evaluated for the particle size distribution and the carbon content. The core samples with similar characteristics were fractionated into several size fractions. And they will be then subjected for float-sink separations to determine the cleanability. The results will be used for developing a multi-stage process to separate the coal pond ash in various products such as lightweight aggregate, sand, high-carbon fuel, and very fine inorganic fillers.