In this study, a coupled probabilistic framework is developed to assess wind risk on apartment buildings by using the convolution of wind hazard and fragility functions. In this framework, typhoon induced extreme wind is estimated by applying the developed Monte Carlo simulation model to the climatological data of typhoons affecting Korean peninsular from 1951 to 2013. The Monte Carlo simulation technique is also used to assess wind fragility function for 4 different damage states by comparing the probability distributions of the window system's resistance performance and wind load. Wind hazard and fragility functions are modeled by the Weibull and lognormal probability distributions based on simulated wind speeds and failure probabilities. The modeled functions are convoluted to obtain the wind risk for the different damage levels. The developed probabilistic framework clearly shows that wind risk are influenced by various important characteristics of terrain and apartment building such as location of building, exposure category, topographic condition, roof angle, height of building, etc. The risk model presented in this paper can be used as tools to predict economic loss estimation and to establish wind risk mitigation plan for the existing building inventory.