The optimal conditions for production of Monascus sp. KM100l cell mass on submerged culture and production of monacolin K on rice solid culture were investigated. An overproducing mutant of Monascus pigments, KM 1001 mutant, from Monascus purpureus KCCM60016 was selected by NTG treatment. The optimal medium for the production of KM100l mutant cell mass is instructed to be composed of 3% glucose, 2% yeast extract, 0.1 % KH$_2$PO$_4$, 0.05% The optimal conditions for production of Monascus sp. KM100l cell mass on submerged culture and production of monacolin K on rice solid culture were investigated. An overproducing mutant of Monascus pigments, KM 1001 mutant, from Monascus purpureus KCCM60016 was selected by NTG treatment. The optimal medium for the production of KM100l mutant cell mass is instructed to be composed of 3% glucose, 2% yeast extract, 0.1 % KH$_2$The optimal conditions for production of Monascus sp. KM100l cell mass on submerged culture and production of monacolin K on rice solid culture were investigated. An overproducing mutant of Monascus pigments, KM 1001 mutant, from Monascus purpureus KCCM60016 was selected by NTG treatment. The optimal medium for the production of KM100l mutant cell mass is instructed to be composed of 3% glucose, 2% yeast extract, 0.1 % $(KH_2PO_4$, 0.05% $MgSO_4{cdot}7H_2O$, 0.2% L-asparagine, pH 4.5, and the optimal inoculum size and shaking speed were $1.5{ imes}10^6$ spores/50 m1 medium and 150 rpm, respectively. On optimal conditions, 4.1 g/l of the cell mass was obtained at 28$^{circ}C$ for 3 days. The mycelium were inoculated on 500 g of steamed rice using vinyl bag ($30.6{ imes}44$ cm) and incubated at $30^{circ}C$, 85% humidity for 21 days. Lactone form monacolin K was rapidly increased for 2 days and reached highest concentration of monacolin K (2,930 mg/kg) for 15 days, and monacolin K was decreased after 15 days.