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The project to create the park was implemented under the Agreement on the establishment of friendly relations between Incheon and Kronstadt, signed in September 2010.

This partnership is based on special historical ties. It was from Kronstadt that the path of the legendary cruiser Varyag began, who heroically died on January 27 (February 9), 1904 in an unequal battle with the enemy in one of the first battles of the Russo-Japanese War of 1904-1905. After heavy damage and loss of personnel, the ship was sunk by the decision of the military council, but never surrendered to the enemy. Andreevsky flag the sailors did not lower. The cruiser "Varyag" received its death near the port of Chemulpo - the modern city of Incheon.

The memory of this battle and the feat of Russian sailors is still carefully preserved in Russia and in the Republic of Korea. Among the relics in the Incheon Municipal Museum there is a guys (bow) cruiser “Varyag” among the relics.

To attend the presentation of Incheon Square, a Korean delegation arrived in St. Petersburg led by the Executive Director of the Main Department of Employment, Economics and International Relations of the Incheon Metropolitan Administration Kim Sang Sopom.

The event was also attended by Vice-Governor of St. Petersburg Oleg Markov, Chairman of the Committee on External Relations of St. Petersburg Yevgeny Grigoryev, coordinator of the memorial project dedicated to the cruiser Varyag, academician Andrei Khazin, head of the administration of the Kronstadt region Oleg Dovganyuk, rector of the Kronstadt Naval Cathedral Archimandrite Alexy, Consul General of the Republic of Korea in St. Petersburg Kwon Don Sok, residents and guests of Kronstadt.

Design solutions and a sketch of the park were developed in close cooperation between St. Petersburg and Korean specialists. Two flagpoles for the flags of the Russian Federation and the Republic of Korea and two information stands telling about the feat of the cruiser Varyag and the cooperation of the cities of Kronstadt and Incheon were installed in the square. The landscaping of the square is made in the Korean style. The design uses traditional stone and floral elements for the Republic of Korea. Next to the Friendship Tree, planted in October 2018 jointly by representatives of Kronstadt and Incheon, a square is decorated with a gazebo and several bonsai trees. On the south side, the territory adjoins the coastline of the Gulf of Finland.

Visitors called the park "the most beautiful in Kronstadt."

For reference:
In 2004, in commemoration of the 100th anniversary of the heroic feat of the Russian squadron in Incheon, a monument was erected to the legendary cruiser Varyag and the gunboat Koreets.

In May 2011, the park in Incheon on which the monuments were erected was named St. Petersburg.