Originally a caldera formed on the northern Seonginbong Peak, Nari Basin is the only flatland on Ulleungdo Island. The lava flow from the volcanic eruption created two other craters, which were turned into Nari Village in the northeast and Albong Village, now uninhabited, in the northwest. Records were found that the island was inhabited since the Usan-guk period, but the islanders had to move out of the island in the earlier Joseon period until a new settlement policy was enforced later on.