Held on June 1~2 in Jeju Island, Korea, the forum is a high-level political forum on Proliferation Security Initiative (PSI). It was co-hosted by Jeju Island, the International Peace Foundation and the East Asia Foundation, and sponsored by the Ministry of Foreign Affairs of Korea. Under the theme "working together for sustainable peace and prosperity in the indo-pacific", more than 400 participants from more than 20 organisations, including Prime Minister Han Duck-soo, National Assembly Speaker Kim Jin-pyo, and former UN Secretary-General Ban Ki-moon, discussed ways of cooperation in various areas including foreign affairs, national security, the Korean Peninsula, economy, and the environment.

PSI was launched in 2003 by the United States, aiming to stop trafficking of weapons of mass destruction (WMD), their delivery systems, and related materials to and from states and non-state actors of proliferation concern. The Czech Republic has joined the PSI in April, 2004. The main purpose of the initiative is to contribute to the widespread international application of the "Interdiction Principles" and to exchange relevant intelligence that would contribute significantly to combating efforts to acquire weapons of mass destruction (and their components) and to disrupting the illicit trade in them.