The Jeju Forum has to date sought in earnest to formulate useful and effective ways to achieve and sustain peace and prosperity for the ever-dynamic region of Asia. Over the years, however, Asia, as in other regions, has been facing an increasing array of security problems and non-traditional security challenges to maintaining peace and stability. These problems and challenges include territorial disputes, the ever-growing dangers of an arms race, the fast-evolving dynamics of geopolitics, the rise of technologies, and more. It is thus high time to re-engineer peace for Asia as neither the usual mode of dealing with peace nor simply playing with concepts are no longer deemed workable. More specifically, the task of re-engineering PEACE can be approached in the following five ways. The first is to Prioritize peace and prosperity in Asia. Second is to Energize the process of achieving and preserving peace and prosperity. The third is to seek Alternatives as new workable solutions. Fourth is to seek Cooperation rather than competition or conflicts. The last is to cultivate Eco-systems ripe for cooperative alternatives for peace and prosperity in Asia. With such efforts, the Jeju Forum is ready to re-visit, rethink, and re-design the ways peace can be preserved for the region, thereby guaranteeing the prosperity of the region.