Recent years have witnessed increasing interest in wetland constructions in Korea as a flood control measure during the flood season and for consideration of the ecology during the non-flood season. In this study, hydraulic and hydrologic analyses were performed on a wetland construction plan for use as an alternative sustainable flood defense during the flood season, as well as a wetland that can protect the ecosystem during the non-flood season. The study area was the basin of the Topyeong-cheon stream, which is a tributary of the Nakdong River, including the Upo wetland, which is registered in the Ramsar Convention and the largest inland wetland in Korea. Wetlands were to be constructed at upstream and downstream of the Upo wetland by considering and analyzing seven scenarios for their constructions to investigate the effect of flood control during the flood season; it was found the best scenario reduced the flood level by 0.56 m. To evaluate the usefulness of the constructed wetlands during the non flood season, the water balance in the wetlands was analyzed, with the best scenario found to maintain a minimum water level of 1.3 m throughout the year. Therefore, the constructed wetlands could provide an alternative measure for flood prevention as well as an ecosystem for biodiversity.