This paper presents application results of the augmented matrix eigen-sensitivity theories to TCSC siting problem for damping the inter-area low frequency oscillation in the large KEPCO system. First and second-order eigen-sensitivities of the inter-area low frequency oscillation in the large KEPCO system. First and second-order eigen-sensitivities of the inter-area mode are computed fro changes in susceptance of the transmission lines. The lines having high sensitivity are chosen as the initial candidates for installing TCSC. Then for each of the chosen candidates, Bodeplot of the transfer function with line susceptance as the input and the bus voltage at one side of the line as the output is computed. Using the Bode plots, the lines having any zeros near the inter-area mode are screened out since design of TCSC controller is very difficult in such a case. The $H_{infty}$ TCSC controller installed at any finally chosen candidate is found to be effective in damping the inter-area oscillation, and the proposed TCSC siting algorithm is proved to be valid. Design of $H_{infty}$ controller is described in Part IIof this paper.