It is an international fireworks festival held every year from late July to early August, sponsored by Pohang City and hosted by the Pohang Cultural Foundation and POSCO.

In 2004, POSCO, a steel company, started to display fireworks, symbolizing the image of fire, a symbol of Pohang's light and steelworks furnace. It has been selected as the representative cultural tourism festival of Korea for seven consecutive years by exhibiting different attractions and art fireworks shows every time. The company has participated not only in Korea but also abroad, including Spain and the United States, which the company worked on in 2017. Over 100,000 fireworks were used in the international fireworks show of the festival. During the 2017 festival, about 140,000 fireworks lit up Pohang’s night sky.

The main events include the Daily Music Fireworks Show, which is set to meet the movie's original soundtrack (OST) with the international fireworks show, the Fireworks Busking Festival, and the Lights Parade. Other events are overseas cultural exchange performances, the Yeongil Bay Watergun competition, street performances, the fireworks festival photo zone, and Youngildae Sands Sledding.