Geumdangsa was built in 814 during the reign of King Heondeok of the Silla dynasty (57 BCE – 935 CE) and is known as the place where the Goryeo monk Naong Hwasang practiced his form of asceticism.

According to another account, the daughter of General Jeon Bong-jun, who led the anti-establishment and anti-foreigner campaign Donghak Peasant Revolution in 1894, sought refuge here.

The square face, the smaller shoulders, and the simple style of the robes are typical of Buddhist images of the late Joseon period (1392–1910).

Surrounding Gwaeumbodhisavtta on the left and right are rows of magnificently colored flame-shaped patterns incorporating 20 small Buddhist gods.

In the past whenever there was an extended drought in the area, the Geumdangsa monks would conduct prayer rituals appealing for rain in the presence of the painting, which invariably resulted in rainfall shortly thereafter.