Flammulina velutipes belonging to white rot fungi is one of the commercially important edible mushrooms and is produced in large quantities due to the introduction of a automated and mechanized cultivation system in Korea. Despite the chief item of export among edible mushrooms, Flammulina velutipes has the lowest distribution rate of domestic cultivar, estimated that about 20 percent. As the result that most white cultivars of Flammulina velutipes produced and exported in Korea were introduced from Japan, farmers pay a large amount of royalties. Therefore, we try to develop a new pure domestic cultivars as a substitute for Japanese cultivars. To breed both white and gold superior strains, we selected the crossing mother groups including 10 white strains of ASI 4198 etc. and 7 brown strains of ASI 4049 etc. and mated each of the 17 strains by mon-mon hybridization. 19 white and 14 brown strains were chosen through two selection experiment over 2014 2016. In the third selection experiment this year, we finally selected one white(Fv 16 c 37) and the other gold(Fv 15 a 31) strain. Two selected strains were cultivated in the same environmental conditions. Spawn running period on the sawdust substrate required 30days at 20°C. The cultivation period and optimum temperature were 12±1 days at 14°C for primordia formation, 5 days at 4°C for inhibition phase, and 14±1 days at 7°C for fruiting body development. The length of pilei and stipes in two selected strains and Megumi as a control Japanese cultivar harvested in optimal stage was as follows: 10.5±0.81mm and 139.7±4.23mm in Fv 16 c 37, 10.8±0.43mm and 128..2±7.31mm in Fv 15 a 31, and 10.9±0.41mm and 141.8±4.64mm in Megumi respectively. The Yield of Fv 16 c 37, Fv 15 a 31 and Megumi was 271.2±11.84g, 237.7±9.05g and 270.7±16.87g per 1100ml in bottle cultivation.