Magadan, an administrative centre of the Magadan region with a population of 128 thousand, is located on the coast of the Okhotskoye sea. Magadan was founded in 1929 because of the developing of the natural resources (gold) in the north-east of Russia. In 1939 it was raised into the status of a city. The present Magadan is the economical, scientific and cultural centre of the region. There are the Music and Drama Theatre, the Puppet Theatre and the Museum of Local Lore.