Earthquake concerns have grown after a remarkable earthquake incident on September 12th, 2016 in Gyeongju, Korea. Earthquake forecasting is gaining in importance in order to guarantee infrastructure safety and develop protection policies. In this paper, we adopt a power-law distribution model to fit past earthquake occurrences in Korea with various historical and modern seismological records. We estimated power-law distribution parameters using empirical distributions and calculated the future probabilities for large earthquake events based on our model. We provide the probability that a future event has a larger magnitude than given levels, and the probability that a future event over certain levels will occur in a given period of time. This model contributes to the assessment of latent seismological risk in Korea by estimating future earthquake probabilities.