The festival also announced that the Korean Cinema Award will go to Sabrina Baracetti of the Udine Far East Film Festival and Jean Francois Rauger of the Cinematheque Francaise.
PIFF stated that Yang 'was one of Asia 's most prominent filmmakers. He pioneered the Taiwanese New Wave and his intricate cinematic aesthetics elevated the status of Asian cinema in the world.'
Winner of the best director award at Cannes in 2000 for A One And A Two (Yi Yi), Yang passed away this June at the age of 59, after making seven feature films.
The festival will also hold a retrospective and seminar to honor the filmmaker whose widow Kaili Peng will be in Pusan to accept the award on his behalf.
The Korean Cinema Award recognises individuals who have made continuous contributions to promoting Korean cinema internationally. Baracetti is head of the Udine festival which focuses on well-made popular Asian films as an alternative to the generally highbrow arthouse fare from Asia shown at most European festivals.
Since its inception in 1999, Udine has screened over 120 Korean films including Welcome To Dongmakgol and An Affair. It also programmed a retrospective on the Golden Age of Korean Cinema in 2003.
Rauger, as senior programmer at the Cinematheque Francaise curated retrospectives on Im Kwon-taek and Kim Ki-young, and also programmed a special series of 50 films to introduce 50 years of Korean cinema.
The winners are to receive their awards at ceremonies during the festival, which runs Oct 4-12.