A video encoding method using motion compensation, the video encoding method comprising: determining a luma reference block for prediction of a current block by using a luma motion vector of the current block; generating luma samples of a 1/2-pixel location in the luma reference block by applying an 8-tap interpolation filter to luma samples of an integer pixel location of a luma reference picture; determining a chroma reference block for prediction of the current block by using a chroma motion vector of the current block; generating chroma samples of a 1/2-pixel location in the chroma reference block by applying an interpolation filter to chroma samples of an integer pixel location of a chroma reference picture; obtaining predicted data of the current block based on the generated luma samples of the 1/2-pixel location and the generated chroma samples of the 1/2-pixel location; generating residual data for the current block based on the predicted data; performing transformation on the generated residual data to generate transformation coefficients; performing quantization on the transformation coefficients to generate quantized transformation coefficients; performing entropy encoding on the quantized transformation coefficients to generate encoded residual data; and generating a bitstream comprising luma motion vector information indicating the luma motion vector, chroma motion vector information indicating the chroma motion vector and the encoded residual data for the current block, characterized in that the 8-tap interpolation filter comprises eight filter coefficients for generating the luma samples of the 1/2-pixel location, which are { -1, 4, -11, 40, 40, -11, 4, -1}. determining a luma reference block for prediction of a current block by using a luma motion vector of the current block; generating luma samples of a 1/2-pixel location in the luma reference block by applying an 8-tap interpolation filter to luma samples of an integer pixel location of a luma reference picture; determining a chroma reference block for prediction of the current block by using a chroma motion vector of the current block; generating chroma samples of a 1/2-pixel location in the chroma reference block by applying an interpolation filter to chroma samples of an integer pixel location of a chroma reference picture; obtaining predicted data of the current block based on the generated luma samples of the 1/2-pixel location and the generated chroma samples of the 1/2-pixel location; generating residual data for the current block based on the predicted data; performing transformation on the generated residual data to generate transformation coefficients; performing quantization on the transformation coefficients to generate quantized transformation coefficients; performing entropy encoding on the quantized transformation coefficients to generate encoded residual data; and generating a bitstream comprising luma motion vector information indicating the luma motion vector, chroma motion vector information indicating the chroma motion vector and the encoded residual data for the current block, characterized in that the 8-tap interpolation filter comprises eight filter coefficients for generating the luma samples of the 1/2-pixel location, which are { -1, 4, -11, 40, 40, -11, 4, -1}.