제천 약령시는 대한제국 말 엽부터 조성된 것으로 보이며 민간 상업 시장이 뿌리내린 이후 관인 제천 약령시로 자리 잡았다.
Jecheon Yangnyeong Market seems to have been established since the end of the Korean Empire, and after the private commercial market took root, it has established as Jecheon Yangnyeong Market with the government's official permission.