The name of the island means "You can have it," i.e., "useless". This was because whenever the Han River flooded, only a small patch of high ground remained above water level.
History
Being a vacant spot convenient to the capital of Joseon, Yeouido was used as a national pasture for sheep and goats according to a 16th-century geographical record. Yeouido remained for the most part an uninhabited sandbar prior to the construction of Seoul's first airport in April 1924. The airport served both international, domestic, and military flights, and was also the site of a flight school. The six-lane bridge connecting it to the mainland of Yeongdeungpo was built in 1970 as part of Han River development project led by PresidentPark Jung-Hee, after which followed a period of rapid development. Formerly part of Goyang, Yeouido-dong was formed as a separate entity in 1971. Today, the island is often referred to as South Korea's "Wall Street", and hosts the state-owned broadcasting station KBS.
Main Institution
Yeouido is the center of politics and economy, and each party's headquarters and social organizations are located in the main hall. In addition, it has one of the most exclusive financial institutions specialized in the "Skyscrapers" business in Seoul: Industrial Bank, Kookmin Bank, Korea Stock Exchange and Federation of Korean Industries, Hana Bank, Shinhan Securities, NH Investment Securities, and Eugene Investment Securities. Major churches are also located in Yeouido, as well as major TV stations, newspapers such as The Kookmin Ilbo, the Financial News Service, and the Yeouido Baptist Church. There are the Korea reinsurance Association, the Korea Securities Finance Association and the LG Twin Towers. Currently, a 73-story Park One Tower is under construction between the two towers. The schools include Yeouido Elementary School, Yoonjung Elementary School in Seoul, Yeouido Middle School, Yoonjung Middle School, Yeouido High School, and Yeouido Girls' High School. There is also a private pension center and a teachers' allowance center.
Public parks
Five parks are located in Yeouido. Notable among these are the Yeouido district of the Han River Public Park and Yeouido Park. Yeouido Park was formed in 1999 through the reclamation of a patch of land, known as Yeouido Square or May 16 Square, which had lain under asphalt for 27 years and was used for various large public gatherings. In addition, a terminal for excursion ferries stands on the Han River shore.
Unit of area
The "size of Yeouido" is often used by South Korean media as a means of comparison for measuring an unfamiliar area. For example, it may be said that city A in country Y is twice the size of Yeouido.
