The Busan Fisheries Cooperative [now Busan Metropolitan City Fisheries Cooperative] built a building in Nampo-dong, Jung-gu, Busan and started a consignment sales business, and the market was formed. The catches of small fishing boats from the southern port were traded around the Busan Fisheries Cooperative Consignment Store, forming a traditional market. The market stood on a cobbled place at the estuary of Bosucheon in Busan and was called Jagalchi Market. In 1922, the consignment store of the Busan Fisheries Cooperative opened and formed a market. After the Jagalchi Market was opened in 1970, it was registered as a market in February 1972.
As of December 2012, there are about 280 stores, 부산비비기 and the total number of merchants is 480, with 280 store-owned merchants and 200 employees. Since 2007, stores have been operating in the modern Jagalchi Market, increasing customer convenience and satisfaction. Every year in October, 'Oiso! See! The Busan Jagalchi Festival is being held under the slogan, 'Saiso!'. It website consists of various programs such as food, shopping, and sights.