Since the opening of the First Jeolyoung Festival in 1993 to prepare a ground for the development of local culture and to broaden interests of residents on culture and arts and to help better the state of residents' emotions. The name of the festival changed to Yeongdo Bridge Festival (Jeolyoung Grand Festival) in 2009 and the festival is promoted under the supervision of Yeongdo-gu Culture Tourism Promotion Committee.

This is the only bridge festival in the country and the festival provides time travel to the sites of modern history on the bridge so that people can experience nostalgia for that time while enjoying festival watching Yeongdo Bridge that is going to be disappear into history after 75 years of service in 2009.

The festival presents old memories while walking on Yeongdo Bridge that is about to be gone and fills you with memories of old times still remaining in Yeongdo and recreates old time by experiencing plays, foods of old times as well as displaying various pictures and small artefacts.

This festival, especially, recreates old trams and residents in costumes of old time march the street and it will present old memories to tourists, and tourists can have opportunity to participate.

In the future, the festival will become the only festival based on bridge by hosting "Yeongdo Bridge Festival" (Yeongdo Bridge, Busan Bridge, Namhang Bridge, Bukhang Bridge) by bringing out the characteristics of Yeongdo, and it is planned to host large programs such as international exhibition for articles for ship, exhibition for local goods to vitalize local economy.