The Guryongpo Specialty Guamegi Festival celebrates the local specialties of the Pohang city region. Pohang city is widely-known as the village where Guamagi, dried mackerel, originated, and the festival promotes this delicious dish as well as other local specialties, such as snow crabs and squid.

The Guamegi Festival presents folk games, traditional Korean music performances, specialty product (squid, Guamegi) competitions, free sampling exhibitions, and other cultural experience programs.