This paper describes the identification of torsional modes and power oscillation modes including the inter-area modes and local modes of KEPCO using the proposed DFT analysis algorithm which is applied to the digitally recorded RMS values of power system variables such as steady-state measured active power, load angle and so on. As a result, the inter-area mode of 0.65Hz and the local modes of the three different generators were identified. In addition the torsional modes of two steam-turbo generators were analyzed by applying the DFT algorithm. Thus, this paper clearly shows the availability of the proposed DFT algorithm that can analyze the digitally recorded effective values measured from the equipment such as PMU of DSM.