DOOSAN Yonkang Arts Awards were instituted in 2010 to honor the wishes of the DOOSAN Group’s inaugural chairman Too-Pyung Park, someone who strove during his lifetime to pursue the cultivation of talented minds. Based on close examination and in-depth discussions by the judges consisting of experts from the Korean visual and performing art communities, the award is given each year to selected under-40 artists who have been realizing their own original vision and creating new currents in different fields.

In addition to a prize of 30 million KRW, recipients are also given the opportunity to present new work at DOOSAN Art Center (DOOSAN Gallery and Space111). They are additionally supported in their continued process of growth and development through assistance in connecting with different Korean and overseas audiences and other relevant individuals.