Binhaewon is the oldest operating Chinese restaurant in Gunsan, Jeonbuk-do. Established in 1952 by Wang Geun-seok, a first-generation Chinese immigrant, the restaurant has been passed down through the family and is currently run by his descendant, So Ran-jeong. The restaurant is a significant landmark, preserving the history and culture of the Chinese community that settled in Gunsan.

The founder, Wang Geun-seok (born in 1920 or 1922), was from Shandong Province, China. He arrived in Gunsan in 1952 during the Korean War after the boat he was on, which was headed from Incheon to Busan, broke down. He initially opened Binhaewon at a different location. The name "Binhaewon" translates to "by the sea," reflecting its original proximity to the water.

In 1965, the restaurant moved to its current building, which was a single-story Japanese-style house at the time. The building was expanded to two stories in the early 1970s. The restaurant is known for its unique two-story open-hall interior, a feature common in high-end Chinese restaurants of the 1950s to 1970s. This architectural style, with rooms surrounding a central open space, is now a rarity. The interior is decorated with traditional Chinese lamps and a colorful ceiling, creating a retro atmosphere that has been maintained for decades. The furniture and decorations largely remain as they were in the 70s and 80s.

In August 2018, Binhaewon was designated as National Registered Cultural Heritage No. 723, a rare designation for a restaurant still in operation, noted for its well-preserved condition and historical value.