This paper describes the exfoliation and surface modification of muscovite mica for UV coating formulation. For the exfoliation of the mica, hydrothermal process was used in the presence of lithium nitrate ($LiNO_3$). After the cation exchange with $Li^+$ ions, the surface of the mica was modified with several amphiphilic substances to increase compatibility and storage stability in UV coating formulation. Such a hydrophobic surface modification affected colloidal stability as well as dispersibility of the exfoliated mica in UV coating solution. Anticorrosive property of mica/UV coated steel plates was tested by salt spray test (SST) and compared with sodium montmorillonite ($Na^+$-MMT)/UV coated steel plates.