PURPOSE: To enhance dispersibility of magnetic powder, by adding a cross-linking isocyanate to a binder incorporating a vinylchloride-vinyl acetate copolymer contg. a polyester resin having metallic sulfonate groups and a vinyl alcohol component not below a specified proportion.

CONSTITUTION: Polyester containing -SO3Na groups is obtained by cocondensing, e.g., 5-sodium-sulfoisophthalic acid, terephthalic acid, cebasic acid, etc. with a divalent alcohol, such as ethylene glycol. This polyester and a vinyl chloride- vinyl acetate copolymer contg. ≥8wt% vinyl alcohol component are used for a binder and further a compd. having ≥2 isocyanate groups is added to give a magnetic coating. A magnetic recording medium obtained by coating this coating and drying is superior in uniform dispersibility of magnetic powder, smooth on the surface, and high in usable temp., and enhanced in durability.