This paper proposes an insulation coordination and surge arrester design for superconducting power system with SFCL(Superconducting Fault Current Limiter) in Icheon substation. In the aspect of the economic analysis, since the superconducting devices are very expensive, the insulation coordination to prevent the dielectric breakdown caused by the lightning surge should be considered carefully. In this paper, the insulation coordination for real grid including SFCL and the design of the protection devices against lightning surge is verified using PSCAD/EM TDC.