Context:

• Prime Minister Narendra Modi has been honoured with the Seoul Peace Prize. The South Korean government has awarded the Seoul Peace Prize for PM Modi in recognition of his service to international cooperation, global growth and human development.
• The PM Modi dedicated the award to the people of India. He stated that the award belongs to the success India has seen in less than five years, powered by 1.5 billion people.
• PM Modi is the 14th recipient of the award. Past winners of the Seoul Peace Prize include former UN Secretary General Kofi Annan, German Chancellor Angela Merkel and international relief organisations like Doctors Without Borders and Oxfam.

Seoul Peace Prize:

• The Seoul Peace Prize is sponsored by the Seoul Peace Prize Foundation. The Seoul Peace Prize was established in 1990 to commemorate the success of the 24th Olympic Games held in Seoul.
• The Seoul Peace Prize reflects the wishes of the Korean people and to crystallize their desire for everlasting peace on earth.  The awardee receives a diploma, a plaque and honorarium of US$200,000.
• The Seoul Peace Prize is awarded to Individuals or institutions which have made great contributions to the harmony of mankind and world peace in each field of endeavour around the world regardless of nation, race, religion, or ideology.