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Bang Il Young Traditional Music Award, which was established by Bang Il Young Foundation in 1994 the year of traditional music, is the feast of traditional musicians in name and reality boasting for the highest authority and biggest prize money

The award was maned after Mr. Bang Il Young the founder of the Foundation and former counselor of Chosun Ilbo who had a deep interest in traditional music and supported traditional musicians. The purposes of the award is to follow the philosophy of the Foundation that places its mission on reviving the Korean mental culture, cultivating an advanced society, and preserving and developing traditional culture, and to praise the achievement of traditional musicians who contributed the promotion of traditional culture by transmitting and distributing traditional music.

Awarding ceremony is held around November every year. The award is given to the most eminent musician who devoted himself/herself for life and left a prominent achievement.

The most prominent contemporary masters such as Manjung Kim So Hee (1st), Mandang Lee Hye Goo (2nd), Park Dong Jin (3rd), Shimso Kim Chun Heung (4th), Kwanje Sung Kyung Lim (5th), Mandang Oh Bok Nyeo (6th) and Yangam Chung Kwang Soo (7th in 2000)Sukam Chung Kyoung Tae(8th in 2001), Nangwol Lee Eun Kwan (9th in 2002) have been awarded.

Giving thought to scholarship program for the young successors who will be the leaders of Korean traditional music in the future, Bang Il Young Traditional Award will keep on seeking for the ways to prosperity of traditional music.