This study aimed to explore and interpret the sense of place in Insa-dong a traditional street designated as a cultural district in Seoul through the thoughts and opinions of insiders who actually experience it. The study also aimed to identify a plan for the development and preservation of Insa-dong. Insa-dong was found to have the characteristic of an “unconscious sense of place,” which had formed naturally over time. This characteristic applies to most physical, social, cultural, and experiential elements that make up Insa-dong. It developed as a place of tradition and arts culture, and thus Insa-dong has continued to be a representative place of traditional and Korean culture until the present. While a uniform modern consumer culture is emerging as a result of the integrated designs and socioeconomic changes brought about by urban capitalism, these changes arguably fall within such a range that Insa-dong’s unique, unconscious sense of place is not greatly damaged. Accordingly, Insa-dong as a unique, attractive place where the new cultural characteristic of “modernity” blends appropriately with “traditionality” can be understood as a representative place that expresses Korea’s past and present life. This study is significant because it examined Insa-dong’s sense of place by moving away from expert perspectives and focusing on interviews with insiders. Based on the results, the study developed a plan for the preservation and formation of Insa-dong’s sense of place. Though this study’s results can suggest basic directions and processes for interpreting sense of place, they are limited in terms of suggesting specific planning and design elements. Therefore, a limitation exists in terms of drawing practical implications. Follow-up studies using this study’s suggestions for preserving and improving Insa-dong’s sense of place can formulate more concrete strategies.