In 1965, Min Byungdo purchased and started to reforest the island. In 1966, he founded Gyeongchun Tourism Development Inc. and developed it into a resort town. He changed the firm name to Namisum Inc. in 2000.
In 2001, Namisum Inc. started to invest heavily in environment and art and culture-related events. Non-profit organizations such as YMCA and YWCA have participated in environment campaigns for recycling, environment monitoring and eco-friendly development. Furthermore, Namisum Inc. has been supporting various events ranging from paintings to applied art in cooperation with writers and international organizations such as UNICEF and UNESCO.
From 1960 to 1990, it was known as a location for a film "Winterreise (겨울나그네)" and "Riverside Song Festival (강변가요제)". Since 2001, it has become one of culture tourist attractions as the number of Asian tourists increases due to the success of Korean dramas. Also it has been in the spotlight of the international resort town with natural environment many foreigners living in Korea desire to visit.
Namisum declared independence as the Naminara Republic on 1 March 2006. It has drawn 1.5 million visitors a year on average.