It was opened as Korea's first modern financial institution, the Incheon sub-branch of the Busan branch of Japan’s first bank, after the opening of Incheon Port in 1883, and was promoted to the Incheon branch in 1888.

In the early days, it served as a purchasing agency in charge of buying gold bullion and alluvial gold produced in Korea, and gradually took charge of bank-specific tasks such as deposits and loans.

Since then, it was changed to the Incheon branch of the Bank of Korea (1909) and the Incheon branch of the Bank of Joseon (1911). After the country’s independence, it became the Incheon branch of the Bank of Korea again, and is now used as the Incheon Open Port Museum.

As for its architecture, the entrance with its semi-circular arch is located at the center of the building, with the small dome in the Renaissance style on the top, making the building symmetrical, its outer walls are built of granite, and under the eaves are stone railings with a round hole.

The overall exterior was constructed in accordance with an eclecticism that forms a symmetry around the main entrance.