Excerpt from an article at koreatimes.co.kr:

In 2010, The Korea Times will hold the 41st Modern Korean Literature Translation Awards.
This annual competition awards English translations of works of contemporary Korean literature in two categories: fiction (including drama) and poetry.
Applicants may submit one translation of a work of Korean fiction or drama of any length or of ten poems by the same poet.
Applicants must only submit one entry in any one category. Translations submitted must not have been published in any form prior to the deadline set for submissions.
Entries for The Korea Times Awards must not have been submitted for any other translation contest in the same year.

Deadline for submissions: Sept. 1, 2010

Where: Mail to The Korea Times (newsroom)
Chung-gu, Chungmuro, 3-ga, 43 Chungmuro Tower Building
8th floor, Seoul, Korea

Prizes: Grand Prize in Fiction (or Drama) : 5 million won
Grand Prize in Poetry: 2 million won

For inquiry: Call The Korea Times Culture Desk (02) 724-2353 or write to ktculture@gmail.com