Krasna Square is a large square located in the city center. In ancient times this territory was located outside the city and it was called the Pyatnitskaya Field. That is reason Paraskeva Pyatnitskaya Temple got its name. This place served as a market place. At the beginning of the 19th century Red Square was moved to the center and changed its name for Bazaar, because a market with columns and rows of trade shops was built on its territory. It means that the destination of this area had not been changing for centuries.

It should also be noted that the name of the square does not come from red color. Red Square received its name because of its unprecedented beauty.

The trade rows were dismantled only in the 1930s, then a paving of red and yellow clinker was laid on the square, and a square was broken near Pyatnytska Church. In 1959 the Taras Shevchenko Chernihiv Regional Academic Ukrainian Music and Drama Theater was opened on the square.