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The Suyeong area has long been rich in fishery resources and was one of the first places in Busan where fishing developed on a large scale. During the Joseon Dynasty, Gyeongsang Jwasuyeong Naval Command was established here, along with eobang, a cooperative fishing organization formed by local fishers and naval forces. The fishing practices of that era have been preserved and passed down through Jwasuyeong Eobang Nori, a traditional folk performance based on the work and customs of fishing communities. The Gwangalli Eobang Festival takes its name from this heritage. Celebrating the history of Gyeongsang Jwasuyeong and the folk traditions of Korea's coastal fishing villages, it has become one of Busan’s representative cultural festivals.