The present study aims to derive and compare narrow and broad bandwidths of ocean color sensor’s algorithms for the study of monitoring highly dynamic coastal oceanic environmental parameters using high-resolution imagery acquired from Multi-spectral Camera (MSC) on KOMPSAT-2. These algorithms are derived based on a large data set of remote sensing reflectances ($R_{rs}$) generated by using numerical model that relates $b_b/(a + b_b)$ to $R_{rs}$ as functions of inherent optical properties, such as absorption and backscattering coefficients of six water components including water, phytoplankton (chl), dissolved organic matter (DOM), suspended sediment (SS) concentration, heterotropic organism (he) and an unknown component, possibly represented by bubbles or other particulates unrelated to the first five components. The modeled $R_{rs}$ spectra appear to be consistent with in-situ spectra collected from Korean waters. As Kompsat-2 MSC has similar spectral characteristics with Landsat-5 Thematic Mapper (TM), the model generated $R_{rs}$ values at 2 ㎚ interval are converted to the equivalent remote sensing reflectances at MSC and TM bands. The empirical relationships between the spectral ratios of modeled $R_{rs}$ and chlorophyll concentrations are established in order to derive algorithms for both TM and MSC. Similarly, algorithms are obtained by relating a single band reflectance (band 2) to the suspended sediment concentrations. These algorithms derived by taking into account the narrow and broad spectral bandwidths are compared and assessed. Findings suggest that there was less difference between the broad and narrow band relationships, and the determination coefficient $(r^2)$ for log-transformed data [ N = 500] was interestingly found to be $(r^2)$ = 0.90 for both TM and MSC. Similarly, the determination coefficient for log-transformed data [ N = 500] was 0.93 and 0.92 for TM and MSC respectively. The algorithms presented here are expected to make significant contribution to the enhanced understanding of coastal oceanic environmental parameters using Multi-spectral Camera.