In this paper, we propose the time-division multiplexing (TDM) based MIMO channel sounding technique using loosely synchronous (LS) codes for real time measurement of MIMO radio channel. Since LS codes have perfect autocorrelation and cross-correlation functions within certain vicinity of the zero shifts, the proposed technique can substantially reduce multipath channel interference. When cumulative distribution functions (CDFs) of absolute root mean square (RMS) delay spread error are considered, simulation results show that the proposed technique outperforms the conventional TDM based MIMO channel sounding technique. Moreover, in the MIMO channel environment where a mobile station moves with various speeds, the proposed technique is more efficient than the conventional TDM based MIMO channel sounding technique, because the proposed technique obtains about twice the measurement data of the conventional TDM based MIMO channel sounding technique at given time slots.