This paper presents an Image Motion Compensation (IMC) algorithm for Korea's Communication, Ocean, and Meteorological Satellite (COMS). An IMC algorithm is a priority component of the Image Navigation and Registration (INR) system to locate and register radiometric image data. To eliminate image distortions, depointing of the imager aiming direction must be adjusted. A compensation algorithm to correct depointing caused by satellite motion is designed, and the capability of the algorithm is compared with that of existing algorithm applied to the GOES's INR system. The algorithm developed in this paper improves pointing accuracy by efficiently compensating for depointing of the imager aiming direction.