Jang Young-Shil was one of the greatest inventors in the Korean history.
The award was established in 1991 to honor and encourage engineers who accomplished a prominent job in technologically innovative activities of private companies, result of which was successfully commercialized into a new product or process during the last two years.
The award given weekly in the name of the Minister of Science and Technology is so widely recognized to be one of the highest for innovation in Kor-ea that even the general public can approve the value of the award.
It stimulates research and development activities of private firms in Korea and encourages R&D professionals to conduct research more enthusiastically. When an engineer wins the award, he or she feels very honored.