팔등방에 속하였다가 1914년 행정 구역 개편 때 월곡리로 개칭되었고, 1985년 행정 분리 시 외월리와 내월리로 분리되었다.
It had belonged to Paldeungbang, but it was renamed Wolgok-ri when the administrative district was reorganized in 1914, which was divided into Oewol-ri and Naewol-ri when the administration was separated in 1985.