In recent years satellite data have been increasingly used for the analysis of floodprone areas. This study was carried out to demonstrate the usefulness of repetitive satellite imagery in monitoring flood levels of the Pyungchang watershed. Runoff characteristics parameters were analyzed by Soil Conservation Service(SCS) Runoff Curve Number(RCN) based on Landsat imagery and Digital Terrain Model data. The RCN average within the watershed was calculated from RCN estimates for all the pixels(picture elements) and adjusted by antecedent precipitation conditions. The direct runoff hydrograph was derived from the unit hydrograph using SCS dimensionless unit hydrograph and effective rainfalls estimated by the SCS method. In comparsion of the direct runoff hydrograph with the measured rating curve their peak times differ by one hour and peak discharges differ by 5.9 percents of the discharge from each other. It was shown that repetitive satellite image could be very useful in timely estimating watershed runoffs and evaluating ever-changing surface conditions of a river basin.