An electronic device is provided. The electronic device includes a housing including a first housing and a second housing configured to rotate with respect to the first housing, a display including a first display area disposed on the first housing and a second display area disposed on the second housing, a hinge module connected to the first housing and the second housing, and a hinge cover surrounding at least a portion of the hinge module, wherein the hinge module includes a hinge arm including a first hinge arm connected to the first housing and includes a first slot, and a second hinge arm connected to the second housing and includes a second slot, a shaft structure connected to the hinge cover, the shaft structure including a first shaft structure having at least a portion located within the first slot and providing a first shaft and a second shaft structure having at least a portion located within the second slot and providing a second shaft, and an interlocking structure including a first interlocking member connected to the first housing and including a first gear, and a second interlocking member connected to the second housing and including a second gear configured to rotate based on the rotation of the first gear, wherein the first hinge arm is configured to slide and rotate with respect to the first shaft based on a folding angle of the electronic device, and wherein the second hinge arm is configured to slide and rotate with respect to the second shaft based on the folding angle of the electronic device.