In this paper, a pseudorange correction regeneration algorithm was developed to improve the positioning accuracy of DGPS using multi-reference stations, and the optimal minimum number of reference sites was determined by trying out different numbers of reference. This research was conducted using from two to five sites, and positioning errors of less than 1 m were obtained when pseudorange corrections are collected from at least four reference stations and interpolated as the pseudorange correction at the rover. After determining the optimal minimum number of reference stations, the pseudorange correction regeneration algorithm developed was tested by comparison with the performance of other algorithms. Our approach was developed based on an exponential model. If pseudorange corrections are regenerated using an exponential model, the effect of a small difference in the baseline distance can be enlarged. Therefore, weights can be applied sensitively even when the baseline distance differs by a small amount. Also weights on the baseline distance were applied differently by assigning weights depending on the difference of the longest and shortest baselines. Through this method, the positioning accuracy improved by 19% compared to the result of previous studies.