Mokpo City, located on the southwestern coast of the Korean Peninsula, has been built on one of the largest areas of reclaimed coastal land in Korea. This reclaimed land is currently experiencing significant ground subsidence due to soil consolidation. We have estimated the subsidence rate of Mokpo City (8 × 8 km) using the synthetic aperture radar interferometry (InSAR) and InSAR permanent scatterer (PSInSAR) techniques to analyze 26 JERS-1 SAR images acquired between 1992 and 1998 and six ENVISAT ASAR images acquired in 2004–2005. Mean subsidence velocity, which was clearly related to reclaimed land, was computed from the JERS-1 PSInSAR analysis. The results indicate a continuous and significant subsidence at three sites (Dongmyung, Hadang and Wonsan), where the subsidence velocity has reached more than 5–7 cm/yr in the area of maximum subsidence. The subsidence rate was found to have decreased in Wonsan and Hadang between 1992 and 1998, while it remained steady or increased in Dongmyung during the same period. The subsidence extended to the period of 2004–2005, and the subsidence rate predicted by the JERS-1 PSInSAR analysis using a linear model was confirmed by the ENVISAT ASAR InSAR results. Our results show that InSAR/PSInSAR-based subsidence maps are useful for the long-term monitoring of soil consolidation and for defining risk zones in coastal reclaimed regions.