This article is aimed at demonstrating the educational value system of foundationism which I have long proposed in the hope of establishing the value system of the Korean education. I shall begin with a brief historical survey of the referance materials on the philosophy of value, which will be followed by foundationism which I suggested a new educational philosophy and as a new educational value system. Next I shall concern myself with “Mutt”, unique ideas in Korean, which is a central ideals of human formation. In my former essay “An Interpretation of ‘Mutt’ from the Viewpoint of Educational Philosophy”, I equated foundationism to Mutt. Its formulae is as follows. tradition+integrity+innovation=Foundationism Kam(감)+Maumtzi(마음씨)+Somtzi(솜씨)=Mutt(멋) material+will+expression=creation Therfore, foundationism is equivalent to ‘Muto’ and is directly related to the logic of the ‘creation’. The most serious problem raised in philosophy of educational value is the juxtaposition of, and the solution of the conflicts between each pair: tradition vs innovation, subject vs object, permanence vs change, development vs. adjustment, vertical values vs horizontal values, intrinsic values vs instrumental values, Oriental values vs. Occidental values, ……and so forth. Then I also suggested the logic of human formation through ‘the harmony with tradition and innovation’ as a solution to that problem. And, educational value emphasized by this foundationism was explained by ‘three ideas and six concepts’ indicated as below 1-3-6. (1) (3) (6) idea of time - culture life Foundationism idea of freedom - intelligence character idea of order - cooperation service With this frame of reference, I have investigated in this article the educational thoughts, educational thinkers, fundamental characteristics of man, the needs of education, fields of disciplines, and school subjects. I further analyzed 2nd article of the Korean educational law, the Charter of National Education, aims of the elementary education in 6 Asian countries, aims of American education, Developmental Tasks and Education by R. J. Havighust. ‘The three ideas and six concepts’ are thus seen as expressing the educational value system of fundationism. As this article limits itself to a demonstration of the educational value system of foundationism with intent to establish the value system of Korean education, various problems arising from this are left for the future studies.