Reliable solar radiation data are important for energy simulations in buildings and solar energy systems. Although direct normal irradiance (DNI) is required for simulations, in addition to global horizontal irradiance (GHI), a lack of DNI measurement data is quite often due to high cost and maintenance. Solar radiation models are widely used in order to overcome the limitation, but only a few studies have been devoted to solar radiation data and modeling in Korea. This study investigates the most suitable solar radiation model that converts GHI into DNI for Korea, using measurement data of the city of Daejeon from 2007 to 2009. After ten existing models were evaluated, the Reindl-2 model was selected as the best. A new model was developed for further improvement, and it substantially decreased estimation errors compared to the ten investigated models. The new model was also evaluated for nine major cities other than Daejeon from the standpoint of typical meteorological year (TMY) data, and consistent evaluation results confirmed that the new model is reliably applicable across Korea.