Samokov was founded in the 14th century as a mining settlement with the assistance of "Saxon" miners. The town's name is a compound word of "samo" and "kov", respectively meaning "self" and the root of the verb "forge, hammer", and comes from the samokov, a mechanical forge powered by water, since the town of Samokov was a major iron producing centre during the Middle Ages.In the 16th and 17th centuries, it grew into the greatest iron extraction centre in the region,Due to the suitable winter sports conditions, Samokov, together with the nearby resort Borovets, is a major tourist centre.