The effect of the mixing ratio of compounds in a slag-OPC-Gypsum system on the physical properties of Slag cement is investigated in this study. $Na_2SO_4$ was used as an alkali activator. Blast furnace slag cement was prepared from a mixture of blast furnace slag, ordinary Portland cement and anhydride gypsum. The fluidity and the compressive strength according to the ratio of each mixture were analyzed in statistical analyses in order to discover the parameters influencing the fluidity and compressive strength. The results showed that the hydration of blast furnace slag took place with the addition of $Na_2SO_4$ and that column-crystalline ettringite was created as the main hydration product of the blast furnace slag. In addition, it was found that the compressive strength of blast furnace slag cement tends to increase when the ordinary Portland cement content is higher up to three days. However, it is known that the compressive strength tends to increase as the blast furnace slag content becomes higher with increases in the level of OPC after 28 days. As a result of this analysis, it is believed that the ordinary Portland cement content influences the initial compressive strength of blast furnace slag cement, and that in later days this is highly influenced by the slag content.