In April 2004 UNESCO’s Executive Board approved the establishment of the UNESCO/Jikji Memory of the World Prize as a means of promoting the Memory of the World Programme and commemorating the inscription of the Jikji, or the "Buljo jikji simche yojeol”, the oldest existing book made through movable metal print.
The Prize consists of a biennial award of US$ 30,000 to individuals or institutions that have made significant contributions to the preservation and accessibility of documentary heritage. The award itself and the operating costs of the Prize as well as all costs related to the award ceremony are funded by the Republic of Korea. The Prize is open to the governments of Member States and international non-governmental organizations (NGOs) maintaining formal relations with UNESCO. Nominations should be submitted to the Director-General.