This statue of Vairocana Buddha seated in a cross-legged position is the oldest remaining statue of the Buddha displaying the knowledge-fist mudra and inscribed with the year of production. As such, it is regarded as an important material for the study of Korean Buddhist sculpture in the early period. It is worth noting that the Vairocana depicted in the form of a Buddha with the knowledge-fist mudra appeared as early as 766, as it reflects the arrival of new Buddhist ideas and a new phase in the history of Korean Buddhism. Also known as one of the oldest remaining Vairocana statues in East Asia to contain an inscription about its background and to exhibit the knowledge-fist mudra, it is generally regarded as a valuable resource for the study of Buddhist iconography and the development of sculpture in Korea.