The Seoul Peace Prize was established in 1990 to commemorate the success of the 24th Olympic Games held in Seoul, Korea, an event in which 160 nations from across the world took part, creating harmony and friendship.

The significance of the Seoul Olympic Games rests in the fact that the games heralded the termination of age-old political and ideological conflict between the East and the West, fostering a worldwide atmosphere of peace and reconciliation. It also served as an occasion to confirm the possibility of achieving world peace through mutual understanding and cooperation.

The success of the Seoul Olympics has a particular meaning to the Korean people whose yearning for peace has been born of an especially challenging history.

The Seoul Peace Prize was established to reflect the wishes of the people and to crystallize their desire for ever-lasting peace on earth.