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Wolmido Island has very few historical records, despite being the location of a temporary palace, built in 1653 during the reign of King Hyojong. The palace was built on the eastern side of the island, but it is impossible to find traces of it now. From the late 1920s until the '30s, the island was transformed into a resort, a very popular destination at the time. Wolmi Culture Street opened in July 1989 and helped improve the area's fame.
On weekends and holidays, people flock to Wolmido Island to enjoy coffee and fresh seafood at the cafes and restaurants overlooking the sea. Despite being 1 kilometer off the coast, Wolmido is no longer an island, being connected to the mainland through modern construction techniques. It is now an easily accessible retreat for locals and tourists alike.