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A new code, LS code, was proposed for the IMT-2000 CDMA system. The code has special properties during a specific time interval: 1) perfect autocorrelation, and 2) perfect crosscorrelation. Perfect autocorrelation means maximum autocorrelation for zero time-offset and zero autocorrelation for all other times during a specific time interval. Moreover, perfect crosscorrelation means that the crosscorrelation has zero value during the time of interest. If you have zero crosscorrelation during a certain time, you can remove all the MAI within that time. However, the detailed properties of LS code and its exact generation method have been previously unknown. Therefore, we investigate the LS code in regards to its exact generating method, properties, and performances in this paper.