International Policy Studies Institute of Korea (IpsiKor) was established in January 1994. The institute's activities have focused on issues related to international peace and security, the Korea-U.S. alliance, and North Korea policies. The institute has also strived to form close networks and relationships with various scholars and experts on Northeast Asia and the Korean peninsula. At present, Professor Emeritus Hyun In-taek is the Chairman of the Institute, and Professor Hong Kyu-Dok, who teaches at Sookmyung Women's University, heads the Institute as President.

The Board of Directors of IpsiKor includes Professor Hyun In-Taek (Korea University), Professor Kim Sung-han (Korea University), former Ambassador Park Shinil, Dr. Cha Young-Koo (Korean-American Association), Professor Yoo Ho-Yeol (Korea University), Professor Yun Duk Min (Institute of Foreign Affairs and National Security), Professor Lee Shin-wha (Korea University), Chairman Hyun In-taek, and Professor Hong Kyu-Dok (Sookmyung Women's University).

International Policy Studies Institute has been engaged in various research projects with such academic institutions as the School of Foreign Service at Georgetown University, SAIS at Johns Hopkins University, the Pacific Forum CSIS, etc., on such topics as Asia-Pacific Alliances, North Korean policy, and the ROKU.S. Security Alliance. One of the main issues of serious discussion has been how to maintain the ROKU.S. security alliance while seeking to develop the alliance into a comprehensive partnership commensurate with the post-Cold War changes in the strategic environment in the Asia-Pacific region.

As a result of these research efforts, the Institute published a book on the topic of Asia-Pacific Alliances in the fall of 2006. The next major project is a planned publication on Cooperative Threat Reduction related to North Korea.

Aside from research projects, the Institute has also organized various international academic seminars. Together with the Ilmin International Relations Institute and the Japan Center for International Exchange (JCIE), the Institute has been organizing the Trilateral Commission Pacific Asia Group. The Pacific Asia Group met in Seoul in November 2000, and Professor Hyun In-taek was nominated as Vice-chairman of the Trilateral Commission Pacific Group. In conjunction with the Ilmin International Relations Institute, the Institute organized international conferences on the ROK-U.S. alliance in Washington, D.C. in 2005, and on Asia-Pacific Alliances in Hawaii in 2006. In April 2006, the Institute hosted the third Trilateral ROKJapan-U.S. Track II Policy Forum in Seoul, which was co-organized with the U.S. National Committee on American Foreign Policy and the Japan Institute of International Affairs. In April 2009, IpsiKor and the Asan Institute for Policy Studies (AIPS) organized the fifth Trilateral ROK-Japan-U.S. Policy Forum which was held in Tokyo.