Using stereo images with ephemeris data from the Korea Multi-Purpose Satellite-1 electro-optical camera (KOMPSAT-1 EOC), we performed geometric modeling for three-dimensional (3-D) positioning and evaluated its accuracy. In the geometric modeling procedures, we used ephemeris data included in the image header file to calculate the orbital parameters, sensor attitudes, and satellite position. An inconsistency between the time information of the ephemeris data and that of the center of the image frame was found, which caused a significant offset in satellite position. This time inconsistency was successfully adjusted. We modeled the actual satellite positions of the left and right images using only two ground control points and then achieved 3-D positioning using the KOMPSAT-1 EOC stereo images. The results show that the positioning accuracy was about 12-17 m root mean square error (RMSE) when 6.6 m resolution EOC stereo images were used along with the ephemeris data and only two ground control points (GCPs). If more accurate ephemeris data are provided in the near future, then a more accurate 3-D positioning will also be realized using only the EOC stereo images with ephemeris data and without the need for any GCPs.