This is the first dedicated bank building in Korea. It had been the Gyeongseong branch of The First Bank of Japan, and had retained the function of the central bank until the old Joseon Bank was opened. Upon Liberation in 1945 it became the main building of the Bank of Korea.
Designed by a Japanese architect, it is a three story building with a basement, and has a structure of steel framed concrete. The exterior is trimmed with granite. The interior was burnt during the Korean War, but was repaired in 1956. A new main building was built at the back in 1987, and this old building was restored to its original state and converted to a money museum. Overall, it is a precise, elegant building with the features of a fortress of the Renaissance age.