A color compensation apparatus for use in a display device includes a first video signal converter, a color gamut mapping and expansion unit, and a second video signal converter. The first video signal converter converts RGB values of a first video signal into first color stimulus values, and the color gamut mapping expansion unit performs a color gamut mapping and expansion process on the first color stimulus values in order to obtain second color stimulus values. The second video signal converter then converts the second color stimulus values into a second video signal based on property information of the display device. The second signal converter includes a plurality of modeling units for converting the second color stimulus values, which are divided for a plurality of channels, into image data of a second video signal using a plurality of modeling functions, respectively.