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It was originally named "Triangelplassen" ('The Triangle Square'), but was renamed in 1962 after 7 June 1905, the day when the Union between Sweden and Norway was declared dissolved by the Norwegian government. In the southern end of the square is found the entrance to the Norwegian Ministry of Foreign Affairs. At the square is the famous statue of King Haakon VII of Norway—who returned to the country on 7 June 1945 from his exile imposed due to the 1940–1945 German occupation of Norway—sculpted by Nils Aas.