Bakanae disease is an important fungal disease caused by Gibberella fujikuroi. Incidence of rice bakanae disease creates serious problems in the foremost rice producing countries, affecting more or less all known rice cultivars. Breeding rice cultivars resistant to bakanae disease will thus be a cost-effective alternative to the application of fungicides. ‘MY299BK’ was derived from a cross between YR24982-9-1 and ‘Ilpum’ in 2008. A promising line, YR28297-1-38-1-1, was selected from among the progeny and designated ‘Milyang299’ in 2013. The local adaptability test of ‘Milyang299’ was carried out at five locations from 2014 to 2016 and named ‘MY299BK’. The heading date of ‘MY299BK’ was Aug. 15, typical for a medium-late maturing cultivar. Its culm was 71 cm long, there were 114 spikelets per panicle, and 1,000 grain-weight of brown rice was 23.4 g; these parameters were similar to those of ‘Nampyeong’. ‘MY299BK’ cultivar was resistant to blast and rice stripe virus, but susceptible to bacterial blight and insect pests. Its yield potential was about 566 kg/10 a at ordinary fertilizer level in a three-year-long local adaptability test. ‘MY299BK’ resistance to bakanae is conferred by the qBK1 gene derived from a tong-il type rice ‘Shingwang’ (Registration No. 7651).