Oxide coating layers were formed on a pure magnesium (Mg) substrate through anodization and micro-arc oxidation (MAO) in order to enhance the biocompatibility and reduce the degradation rate. A thin, smooth MgO coating layer was formed after the anodization. On the other hand, when the Mg was treated using the MAO process, a relatively thick, rough MgO layer was formed. The corrosion properties were investigated using electrochemical and ion release tests in a simulated body fluid. Both the anodization and the MAO treatment enhanced the corrosion resistance of the Mg specimens. However, the MgO layers that formed on the surface were not stable enough to render favorable environments for cell growth. The anodized and MAO-treated specimens were post-treated in a cell-culturing medium in order to improve the stability of the coating layer. The biocompatibility was evaluated using in vitro cell tests, including cell attachment, DNA measurement, and alkaline phosphatase (ALP) activity tests. The DNA levels of the surface-treated Mg were about 6-10 times higher than the bare Mg. The ALP activity levels were also more than double after either the anodization or the MAO followed by the post-treatments. These results demonstrated that the biocompatibility and the corrosion resistance of Mg were significantly improved by the series of surface treatments.