Much like the Prix Marcel Duchamp in France, the Hermès Foundation Missulsang offers international visibility to South Korean artists. The frequent presence of past laureates in major art events such as the Venice Biennale attests to the prestige that this prize confers upon selected artists.

Created in 2000 by the maison Hermès and originally named the Hermès Korea Missulsang (with Missulsang literally meaning "art prize"), at its outset the honour was awarded to three artists for their oeuvre as a whole. In 2008, the Hermès Foundation Missulsang became associated with the newly created Fondation d’entreprise Hermès. Beginning in that year, the Atelier Hermès exhibited three finalists from which a final laureate was eventually chosen. 

In 2014, the prize became a biannual one. Selected by an international jury, the laureate of each edition now receives a grant, a residency in Paris and a solo exhibition at the Atelier Hermès, which allows them to present their work to a broad public. 

The trajectories of previous winners of the prize attest to the fact that the Hermès Foundation Missulsang constitutes a veritable springboard through which laureates can enter the international scene. At the same time, the prize has continued to offer a rich panorama of Korean contemporary art over the last twenty years.