It has been widely recognized that accurate landslide susceptibility assessments are essential and effective to prevent disasters and minimize casualties as well as property damages. In recent decades, many slope stability assessment models have been developed and applied, including both steady and transient (time-variant) modeling approaches. None of them, however, solve well the relationship between rainfall and slope instability due to many simplifications in the boundary conditions and the flow in soil. As another slope stability modeling method, a new time-variant slope stability model is introduced in this study, the proposed model is then applied to 2011 Mt. Umyeon landslide event for model verification. The integrated surface and subsurface flow model is used to assess time-varying subsurface water amount governed by hydrological processes. In this flow model, a two-dimensional shallow water equation with diffusion wave approximation and a three-dimensional Richards’ equation are used to formulate the surface flow system and the saturated–unsaturated subsurface flow system, respectively. A widely used time-variant slope stability analysis model, TRIGRS, is also applied to the same event for comparison. The proposed model produced significantly improved results as compared with those of TRIGRS in terms of agreement with observation.