The Kumho Museum of Art was opened to celebrate the diversity of art. The museum displays new pieces of art from promising new artists and accomplished artists every year. The museum first opened its doors in Gwanhun-dong in 1989, but moved to a larger area in 1996 where it stands today. The Kumho Museum of Art stands on the east side of Gyeongbokgung Palace. The museum is surrounded by other cultural and folk museums. The B1 floor features artwork of new artists while the 1st and 2nd floors feature project exhibitions and invitation exhibits. About once a year foreign artists are invited to display their art in the museum. There are official invitation exhibitions of seven artists yearly. These are artists who have strongly influenced Korean art. On the 3rd floor of the museum is a small concert hall, also known as Kumho Recital Hall. Although the capacity is only 171 people, all concerts are executed with professional care. On the 1st floor there is a coffee shop and an art shop. The coffee shop and art shop remain open on days the museum is closed.