Asunción is the capital city of Paraguay, located in the southern part of the country along the eastern bank of the Paraguay River. It serves as the political, cultural, and economic center of Paraguay, with a population of over 500,000 residents. The city is known for its historical architecture, parks, and vibrant markets. Founded in 1537, Asunción has a rich history that reflects the diverse influences of indigenous cultures and Spanish colonization. Key landmarks include the Palacio de los López, the national government palace, and the National Pantheon of the Heroes, which honors notable figures in Paraguayan history.