The strain-induced piezoelectric polarization and the spontaneous polarization can be reduced effectively using the applied electric field in the CdZnO/ZnMgO quantum well (QW) structure with high Cd composition. That is, optical properties as a function of internal and external fields in the CdZnO/ZnMgO QW with various applied electric field result in the increased optical gain due to the fact that the QW potential profile is flattened as a result of the compensation of the internal field by the reverse field as confirmed. These results demonstrate that a high-performance optical device operation can be realized in CdZnO/MgZnO QW structures by reducing the droop phenomenon.