The corrosion test was performed for ferritic/martensitic steel HCM12A with and without Fe-Al alloy coating in LBE at temperatures of 550 and 650 C under loading for an immersion time up to 500 h. After the corrosion test at 550 C for 500 h, both of the uncoated and Fe-Al-coated HCM12A showed a good corrosion resistance without the influence of the tensile stress on the LBE corrosion. On the other hand, after the corrosion test at 650 C, the Fe-Al coating layer on the specimen surface exhibited no LBE dissolution corrosion because of the formation of a stable oxide protection film on the coating layer surface, although the coating layer cracked. The LBE penetrated into the cracks and corroded the base metal and the precoating layer. The uncoated HCM12A exhibited the double oxide layers of FeO and FeCr spinel. The FeO was damaged in the bent zone by the stress, and the Fe-Cr spinel layer was not destroyed by the influence of cracking and the tensile stress. The cracking and stress did not have a large influence on the overall oxidation corrosion rate.