The name "Seomun" means "west gate," and refers to the location of the market just outside the old west gate of Daegu Castle, which was demolished in 1907. It is also one of the country's oldest markets, dating to a 5-day market held in the area in the late Joseon Dynasty. In the final years of Joseon, Seomun market was one of the country's three largest markets. The market was constituted in its present form in 1920.