A Tank Model composed of 4 tanks with soil moisture structure was applied to Daecheong Dam and Soyanggang Dam watersheds. Calibration and verification were repeated 332 and 472 times for each watershed using SCE-UA global optimization method for different calibration periods and objective functions. Four different methods of evapotranspiration calculation were used and evaluated. They are pan evaporation, 1963 Penman, FAO-24 Penman-Monteith, and FAO-56 Penman-Monteith methods. Tank model with soil moisture structure showed better results than the standard tank model for daily rainfall-runoff simulation. Two types of objective function for model calibration were found. Proper calibration period are 3 years, in which dry year and flood year are included. If a calibrationperiod has an inadequate runoff rate, the period should be more than 8 years. The four methods of eyapotranspiraton computation showed similar results, but 1963 Penman method was slightly inferior to the other methods.