Instances of flood damage caused by extreme storm rainfall due to climate change and variability have been showing an increasing trend. Particularly, a flood forecasting and warning system has been recognized as an important nonstructural measure for flood damage reduction, including loss of life. Flood forecasting and warning have been performed by the forecasts of flood discharge and flood stage using the physically based rainfall-runoff models. However, recently, studies involving the application of a machine learning-based flood forecasting models, which addresses the limitations of extant physically based flood stage forecasting models, have been performed. We may require various case studies to determine more accurate methods. Therefore, this study performed the real-time forecasting of the river water level or stage at the Gurye station of the Sumjin river with lead times of 1, 3, and 6 h by applying a long short-term memory (LSTM)-based deep learning model. In addition, the applicability of the LSTM model was evaluated by comparing the results with those from widely used models based on support vector machine and multilayer perceptron. Consequently, we noted that the LSTM model exhibited a relatively better forecasting performance. Therefore, the applicability of the LSTM model should be extensively studied for flood forecasting applications.