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Kun-hee Lee, Chairman of Samsung, established The Ho-Am Prize, posthumously named after
"Ho-Am" Byung-Chull Lee, Founder of the Samsung, in 1990. Chairman Lee established the Prize to assure the continuance of Founder Lee's lifelong interest in and commitment to the promotion of public benefit programs and activities. Consequently, The Ho-Am Prize is presented to people who make major contributions to science, the arts, social development and human welfare through remarkable achievements.

The Ho-Am Prize is a special award in Science, Engineering, Medicine, The Arts, Community Service and other areas. It is presented to ethnic Koreans and foreigners who have, through their impressive cooperation and noble efforts, contributed to the development of Korean culture, the nation, society, and human welfare.

The Ho-Am Prize in Science is presented to scholars who have achieved world-class standards in creative research in the international academic world. By recognizing and commending such scholars and their accomplishments, the Prize further elevates recipients' academic confidence and achievements, and increases determination throughout the field to make greater scholastic contributions.

In The Arts, The Ho-Am Prize recognizes those who have made outstanding contributions to the promotion of Culture and The Arts through their creative efforts and accomplishments. Additionally, the Prize is given to inspire creative activities in various artistic fields for even greater cultural development.

In Community Service, The Ho-Am Prize is presented to those who have made major contributions to the promotion of social welfare through their selfless philanthropic attitudes, activities and commitment to service. By promoting wider recognition in society of the results of such lofty attitudes and accomplishments, the Prize contributes to greater development of a more caring society.