Museum History : Busan Modern & Contemporary History Museum

1900s

~

1940s

Main Building

1909. 7. 26.

Established the Bank of Korea (Daehan Jeguk or the Korean Empire)
- Functioned as a central bank, with a branch located in Busan
1910. 4. 18.

The Bank of Korea (Daehan Jeguk) opened a branch in Busan
1911. 8. 15.

Promulgated the Bank of Chosen Act (Mar. 1911), and established a centralized branch of the Bank of Chosen
1912

Established the Busan branch of the Bank of Chosen
- Estimated to have been built in 1912, the Busan branch of the Bank of Chosen (Renaissance-style architecture)

Annex Building

1929. 8.

Built a new building for the Busan branch of Oriental Development Company
- Relocated from 76-8, Juang-dong 4-ga, to the current building
1945. 9. 16.

The U.S. Army’s 6th Division, under the 24th Army Corps, used the building as quarters while stationed in Jinju, Dongchuk, and Busan.
1946. 2. 21.

Established the Busan branch of the New Korea Company
- US Military Government Ordinance No. 52 (New Korea Company installation order)
1946. 5. 7.

The Busan branch of the New Korea Company relocated from the former Dongchuk building in Daecheong-dong to Bonjeong 2-jungmok.
- US Military Government Ordinance No. 80 (Revised the installation order of the New Korea Company)
1948. 9. 11.

Ownership transferred to South Korea; the U.S. began free use of the property
- Initial agreement on property
1949. 5. 13.

Opened a new USIS (the United States Information Service) building
- Relocated from the building next to the Minakai Department Store to the former Oriental Development Company Busan Branch building in Daecheong-dong
- Korea’s first regional culture complex center

1950s

~

1960s

Main Building

1950. 6. 12.

Established the Bank of Korea as the Central Bank of the Republic of Korea
- The Busan branch of the Bank of Chosen → The Busan branch of the Bank of Korea
1950. 7. 22.

Issued the first series of Bank of Korea notes: 1,000 won and 100 won
- Due to the wartime destruction of local facilities, the notes were printed by Japan’s Ministry of Treasury Printing Bureau
1952. 10.

Issued the first currency produced with Korea’s printing technology — the new 1,000 won and 500 won notes
- Printed by the Korea Minting and Security Printing Corporation (established in 1951) in Dongnae, Busan
1953. 2. 17.

First Monetary Reform
- Banned the circulation of won and jeon- denomination currency
- Changed the currency unit from won to hwan
- Adjusted 100 won to a ratio of 1 hwan
1953. 8. 8.

The Bank of Korea (Busan Branch) closed its central office operations and returned to Seoul.
1958. 7. 3.

Temporary relocated the Bank of Korea’s Busan Branch
- 36 Daechang-dong 1-ga, Jung-gu (near the current Busan Jungbu Police Station)
1963. 12. 30.

The Bank of Korea Busan Branch opened for business following the completion of its new building (12.28).
- 44 Daecheong-dong 1-ga, Jung-gu (formerly the Busan branch of the Bank of Chosen)
- Architects Lee Cheon-seung and Hong Sun-oh

Annex Building

1950. 6. ~
1953. 8.

Used as the Busan United States Information Service office and a U.S. Embassy facility during the Korean War.
- Evacuated National Treasures from the National Museum of Korea were temporarily stored in the basement
1957. 11.

Renamed to the Busan American Council

1970s

~

1990s

Main Building

Annex Building

1982. 3. 18.

Busan American Council Fire Accident
1984. 1. 27.

Opened the U.S. Consulate in Busan on the 2nd floor of the Busan American Council
1984

Renamed to the Busan American Center
1996. 10. 1.

Closed Busan American Center
1998. 7. 10.

Closed U.S. Consulate in Busan
1999. 4. 30.

Returned Busan American Center (US→Ministry of Strategy and Finance)
1999. 6. 10.

Transferred ownership to Busan City (Ministry of Strategy and Finance → Busan City)

2000s

Main Building

2002. 1. 10.

Renamed from the “Bank of Korea Busan Branch” to the “Bank of Korea Busan Headquarters”

Annex Building

2001. 5. 16.

Designated as Busan Metropolitan City Monument No. 49
2002. 2.

Basic plan for the utilization of the former Busan American Center building (Busan Development Research Institute)
2002. 5. ~
2003. 7.

Renovated the Busan Modern & Contemporary History Museum
2003. 7. 3.

Opened Busan Modern History Museum

2010

~

2016

Main Building

2011. 5. 16.

Reviewed the utilization of the Bank of Korea Busan Headquarters
2013. 7. 22.

Relocated the Bank of Korea Busan Headquarters to Munhyeon-dong new building
2013. 9. 25.

Designated as Busan Metropolitan City Cultural Property No. 70
2015. 11. 20.

Signed a purchase agreement for the (formerly) Bank of Korea Busan Headquarters
2016. 11. 17.

Public hearing held on utilization of former Bank of Korea Busan Headquarters.

2017 ~

2017. 5. 10.

The Ministry of Culture, Sports, and Tourism released the Preliminary Feasibility Assessment for Establishing Public Museums in 2018.
2018. 3. 27.

Incepted a basic plan for the establishment of the Busan Modern & Contemporary History Museum
2019. 4. 11.

Held discussions on utilization of former Bank of Korea Busan Headquarters
2019. 6.

Considered and approved proposed changes to the City Council’s Shared Property Management Plan
2019. 9. 20.

Established a promotion policy for exhibition and architectural design
2019. 10. 31.

Established the Phase 1 project implementation plan for the Busan Modern & Contemporary History Museum
2020. 3. 19.

Established the Phase 2 project implementation plan for the Busan Modern & Contemporary History Museum
2021. 5. 6.

Enacted the name as the Busan Modern & Contemporary History Museum
2021. 6. 29.

Closed the Busan Modern History Museum
2022. 8. 5.

Opened an office of the Busan Modern & Contemporary History Museum
2022. 12. 16.

Completed the Phase 1 project implementation for the Busan Modern & Contemporary History Museum
2022. 12. 28.

Established and released the operating bylaws for the Busan Modern & Contemporary History Museum
2023. 3. 1.

Opened an annex building of the Busan Modern & Contemporary History Museum
2024. 1. 5.

Opened the main building of the Busan Modern & Contemporary History Museum

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