- Address Gomnae-gil, Cheolma-myeon, Gijang-gun, Busan
It is located in the upper stream of Ungcheon in Ungcheon-ri, Cheolma-myeon. The valley which flows between Mount Keomun and Oknyeobong has a reddish mist, and the waterfall just above it is Hongyeon Falls, one of the eight major sights of Chaseong. The spectacle of the Hongyun Falls is mentioned in song, liking it seemingly have fallen off the Milky Way, and the water spray likened to beads which fly like the movements of fairy’s skirts. The water spray received the sunlight and makes a splendid rainbow, giving it the nickname of Rainbow Falls. Even during usual times when there is little water flow, the upper part is about 5m in height and the middle part is about 20m in height. The water falls down from the rock above in a near vertical 100m drop, and collects in the Hongryu-dong pond.