The present invention relates to a low chrome ferritic stainless steel with a high corrosion resistance and stretchability and a method of manufacturing the same, wherein the low chrome ferritic stainless steel with the high corrosion resistance and stretchability is composed of C of 0.03wt% or less, Si of 0.5wt% or less, Mn of 0.5wt% or less, P of 0.035wt% or less, S of 0.01wt% or less, Cr of 14 to 16wt%, Mo of 0.2wt% or less, N of 0.030wt% or less, Cu of 0.5wt% or less, Al of 0.05 wt% or less, Ni of 0.2wt% or less, C+N of 0.040wt% or less, Ti of 0.5wt% or less, remaining Fe and, inevitably added impurities, being controlled in EL value defined by Equation 1 below to be 33 or more and in P.I. value defined by Equation 2 below to be in a range of 14 to 16. EL= -162.1x(C+N)-0.2xCr-l.lxMo-0.2xTi/(C+N)+42.2 (1) P.I.=Cr+3.3Mo (2)
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