An innovative laser-beam forming technology and the steel-based-powder material have been developed by combining a conventional laser sintering and a high-speed milling method, for the purpose of the fabrication of low-cost injection molds with short lead-time. Mold fabrication, which substantially affects product development cost and lead-time, has been the subject of intense experimentation, centering around different approaches, such as rapid prototyping by solidifying liquid resin using laser light. However, none of these methods have been applicable to production processes due to insufficient accuracy and service life. The newly developed laser-beam forming technology enabled the one-process quick fabrication of low-cost injection molds.