The Yeon Deung Hoe Lotus Lantern Festival is a modern-day annual tradition that offers visitors the chance to experience Buddhist culture that has been celebrated for more than a thousand years on the peninsula. The main event of the festival is the Lantern Parade, during which more than 100,000 brightly-colored illuminated lanterns and lantern floats in various shapes flood the streets of downtown Seoul.
According to Buddhist beliefs, lanterns symbolize wisdom in that they bring light to the world. “Yeondeung,” which means lantern lighting, is an important ritual in Buddhism that pays respect to Buddha. You can read much more about this colorful time of year on the Korea Tourism Organization’s page and see more photos at Daily Mail.