The objective of this study is to evaluate the applicability of a Land Surface Model (LSM) for drought analysis in Korea. For evaluating the applicability of the model, the model was calibrated on several upper dam site watersheds and the hydrological components (runoff and soil moisture) were simulated over the whole South Korea at grid basis. After converting daily series of runoff and soil moisture data to accumulated time series (3, 6, 12 months), drought indices such as SRI and SSI are calculated through frequency analysis and standardization of accumulated probability. For evaluating the drought indices, past drought events are investigated and drought indices including SPI and PDSI are used for comparative analysis. Temporal and spatial analysis of the drought indices in addition to hydrologic component analysis are performed to evaluate the reproducibility of drought severity as well as relieving of drought. It can be concluded that the proposed indices obtained from the LSM model show good performance to reflect the historical drought events for both spatially and temporally. From this point of view, the LSM can be useful for drought management. It leads to the conclusion that these indices are applicable to domestic drought and water management.