The sculpture was created as part of a joint effort by the city of Pohang and South Korean steel company POSCO, in order to increase local tourism.

It is meant to evoke a feeling of reaching utopia and "swimming in space above the clouds", as well as to symbolize aspects of Pohang's prominent manufacturing and steel industries.

The city of Pohang and the company POSCO had previously collaborated on constructing Hwanho Park together in 2011.

[3] On April 1, 2019, a memorandum of understanding contract was signed between Pohang mayor Lee Kang-deok, president of POSCO Choi Jeong-woo, and the management of Hwanho Park.

[7][1] Genth had previously designed Tiger and Turtle – Magic Mountain, a similar interactive sculpture in Duisburg, Germany.

[9] On January 19, POSCO officially received a permit to construct Pohang Space Walk, and had a projected completion date of August 2021.

In accordance with legal requirements, the structure is meant to be able to withstand earthquakes measuring up to 6.5 on the Richter scale.

[1] For safety reasons, if winds are faster than 8 meters per second (26 ft/s) or if there is severe rain, visitors cannot interact with the sculpture.

[1] From the highest point of the sculpture, visitors can see Yeongildae Beach and high rise apartments in the area.

[8] The diverging tracks that reunite in the end represent the union of art and people, businesses and citizens, and POSCO and Pohang.

[27] On May 9, 2022, Kim Jae-moo proposed building another similar Space Walk sculpture in the city of Gwangyang.

Kim was then a Democratic Party of Korea politician running to be the mayor of Gwangyang, and thought that such a sculpture could boost tourism there.

[29] From February 21 to 23, Gwangyang city officials visited Pohang Space Walk to learn about the structure and how it manages visitors.