It is the centrepiece of the Seoul Sports Complex in the Songpa District, in the southeast of the city south of the Han River.

Officially, the stadium opened on 29 September 1984 as the main work for the 10th Asian Games held two years later, then the Olympics in 1988.

It currently has no occupant, although the Korea Football Association has expressed interest in renovating and modernizing the stadium, transforming it into a permanent ground for national team matches.

The newly built Seoul World Cup Stadium then became the center match venue for the Korean team.

In an effort to revitalize football across the nation, Korea used the Olympic Stadium for the 2013 EAFF East Asian Cup in a 1–2 losing match against Japan on 28 July 2013.