Medical mushroom, Phellinus linteus and Phellinus baumii called as “Sanghwang” have cultivated in Korea. PL has been studied extensively for its extraordinary capacity of suppressing cancer or enhancing body immunity. The mycelial materials of PL have mainly been used as research samples worldwide because fruiting bodies was difficult to be artificially cultivated. Alternatively, P. baumii (variety, ‘Jangsu’) have been cultivated in Korea. However, fruiting body morphology of P. baumii is clearly different to that of PL. Generally, Phellinus spp. including P. linteus slowly grow on artificial medium such as Potato Dextrose Agar (PDA). In contrast, P. baumii strains were rapidly grown on the artificial media when compared to other Phellinus spp. and thus it was considerable that its mycelial growing ability can be acted as a factor for producing fruiting bodies. This study aimed to find Phellinus isolates having high mycelial growth rate. Five Phellinus isolates that show rapid growth rate on YGM medium were selected from 36 Phellinus isolates collected in Korea. They were identified on nucleotide sequences of rDNA-ITS region. Phellinus linteus strain and Phellinus spp. showing mycelial growth rate comparing to P. baumii were characterized on cultural and bioactive characteristics (antioxidant activity and immune activation).