Since 1989, every May (sometimes June) in downtown Daegu, the Dongseongno Merchant's Cooperative organizes a festival on the popular downtown street of Dongseongno. The festival lasts 3 days and consists of a parade, live bands, and ongoing cultural events and displays. The festivals usually has main stages in front of Daegu Department Store and other venues on the street leading to the west side of downtown.

The festival in 2008 will be held from May 23-25, opening at 5pm on the 23rd and lasting all weekend.