The Ho-Am Prize was established in 1990 by Kun-Hee Lee, the Chairman of Samsung, with a vision to create a new corporate culture that continues the noble spirit of public service espoused by the late Chairman Byung-chull Lee, founder of Samsung. Awarded since 1991, it is funded by Samsung and named after their former chairman, Lee Byung-chul (Ho-Am is his pen name which means filling up a space with clear water as lakes do, and being unshakeable as a large rock). The Ho-Am Prize is currently awarded in five fields: Science, Engineering, Medicine, Arts and Community Service. The Ho-Am Prize in the Arts was established in 1994. Source: Wikipedia (en)