The museum was established on 8 November 1945 by the U.S. Government and opened on 25 April 1946 at the City Administration Memorial Hall. When the museum was merged with National Museum of Korea, its collection of 4,555 artifacts was moved to the latter's Mt Namsan site. In 1975, when the National Museum moved onto the grounds of Gyeongbokgung Palace, it moved along with it into the Modern Art Museum Building. In 1993 it opened in its present site, which was the former site of the National Museum of Korea. The building's design is based on various historical buildings around South Korea.