UN-REDD (United Nations programme on Reducing Emissions from Deforestation and forest Degradation) is currently being emerged as one of important mechanism to reduce carbon dioxide in relation to the deforestation. Although administrative boundary has already gained world-wide recognition as a typical method of monitoring unit in the process of GHG (Greenhouse Gas) reduction project, this approach did not provide a realistic evidence in the carbon sequestering monitoring in terms of UN-REDD; the meaningful comparison of land use patterns among watershed boundaries, interpretation for distribution trends of carbon density, calculation of opportunity cost, leakage management, etc. This research proposes a comparative evaluation framework in a more objective and quantitative way for carbon sequestering monitoring between administrative and watershed boundary approaches. Mt. Geumgang of North Korea was selected as a survey objective and an exhaustive and realistic comparison of carbon sequestration between the two approaches was conducted, based on change detection using TM satellite images. It was possible for drainage boundary approach to identify more detailed area-wide patterns of carbon distribution than traditional administrative one, such as estimations of state and trends, including historical trends, of land use / land cover and carbon density in the Mt. Geumgang. The distinctive changing trends in terms of carbon sequestration were specifically identified over the watershed boundary from 4.0% to 34.8% while less than 1% difference was observed in the administrative boundaries, which were resulting in almost 21-22%. It is anticipated that this research output could be used as a valuable reference to support more scientific and objective decision-making in introducing watershed boundary as carbon sequestering monitoring unit.