The Seoul Peace Prize Cultural Foundation was established as the juridical foundation on June 3, 1992 with the aim of contributing to the attainment of a true world peace for mankind by awarding the Seoul Peace Prize which recognizes those who made great contributions to the harmony of mankind, the reconciliation between nations and the world peace on the basis of the ideals of the 24th Seoul Olympic Games held in Seoul, Korea in 1988 in an atmosphere of friendship and harmony of the peoples around the world.