There is provided a light emitting diode operating under AC power comprising a substrate; a buffer layer formed on the substrate; and a plurality of light emitting cells formed on the buffer layer to have different sizes and to be electrically isolated from one another, the plurality of light emitting cells being connected in series through metal wires.According to the present invention, light emitting cells formed in an LED have different sizes, and thus have different turn-on voltages when light is emitted under AC power, so that times when the respective light emitting cells start emitting light are different to thereby effectively reduce a flicker phenomenon.