Despite their outstanding talents, many young Korean classical musicians have difficulties in fully demonstrating their musical capabilities due to the lack of interest and economic support from the government or enterprises. Under such circumstances, the Foundation has taken a good, albeit small, step forward.
To upgrade promising Korean musicians' capabilities, the Foundation operates the Daewon Artist Fellowships that select and support young Korean classical musicians.

In 2006, the Daewon Artist Fellowships reclassified as part of the Daewon Music Awards. Thus, the winner of the Best New Artist Prize automatically receives scholarships and various supports for musical activities from the foundation for minimum one year.

The Daewon Artist Fellowships were created in 2005, and it chose pianist Sunwook Kim, the youngest winner of the Clara Haskil International Piano Competition, as the 1st Daewon Artist Fellow . Even though he had not studied abroad, he became the 1st and youngest Asian who won the 2006 Leeds International Pianoforte Competition. From October 2005 through January 2008, he was awarded scholarships and comprehensive administrative supports from the Foundation. Thanks to such supports, he was able to sign an exclusive contract with Askonas Holt Ltd., the worlds' leading arts management agency representing many prestigious classical musicians like Claudio Abbado, Daniel Barenboim, Myungwhun Chung, Sir John Eliot Gardiner, Zubin Mehta, Sir Simon Rattle, Emanuel Ax, Evgeny Kissin, Murray Perahia, and Yo-Yo Ma , thereby laying the Foundation for his participation in the global competition.

Based on the Fellowships, the Foundation will continue to patronize young promising musicians who will be leaders in the field of Korean classical music.