Baengnyul temple is supposed to be Jachu temple referred to in Samgukyusa. If this supposition is correct, the temple must have been built in memory of I Cha-don whose martyrdom led to Silla's adoption of Buddhism as the state religion in 527, the 14th year of Silla King Beopheung. The original hall was destroyed by fire during the Japanese invasion of 1592-98. It was rebuilt in the Joseon period. The foundation retains the architectural style of the Silla period.
Daeungjeon is the main prayer hall where Sakyamuni Buddha is enshrined. The standing golden statue of Bhaishajyaguru-Vaidurya (Medicine Buddha) enshrined in Daeungjeon was made at the same time when the seated golden statues of Amitabha and Vairocana in Bulguksa temple were. These three statues are regarded as the masterpieces of the Unified Silla period. The Medicine Buddha is now displayed in the Gyongju National Museum.