Twelve races are scheduled for the Championship, with five required to constitute a series. After race six one result may be discarded, and after race nine a second result can also be discarded.
The first official race day is Saturday 16 July, when the competitors will open with a scheduled three races. The warning signal for the first race on Saturday and every other racing day is set for 1155 hours local time. Two more races each on Sunday and Monday follow before a lay day on Tuesday when the competitors will be given a city tour. They then return to the water for the final five races which will decide the outcome of the medals in the 2005 Volvo Youth Sailing ISAF Youth World Championship. Wednesday and Thursday both host another two races each, with the final race of the Championship on Friday 22 July. This final race will then be followed by the prizegiving and Closing ceremony, with the final day of th Championship, 23 July, a departure day.
Nautivela have been supplying the 420s for the ISAF Youth Worlds since 1997 and again support ISAF in Busan. They will also be sending 20 420s to the 2006 ISAF World Sailing Games for the team racing event on Lake Neusiedl, Austria as well as 70 470s. Performance Sailcraft Japan have supplied the Laser and the Laser Radial, whilst Hobie Cat Australasia have supplied the Hobie 16s for the multihull open competition.
There are three racing areas. The two windsurfer fleets will race in the EXR area, the two single-handed dingy events in the Volvo area and the double-handed dinghy and multihull open events in the Hanjin Shipping area.
For all the boats the time limit for each race will be two hours, with 30 minutes to mark one and all entries will need to finish 20 minutes after the first boat has crossed the line to count the result. The windsurfer events have a time limit of one hour, 20 minutes to the first mark and 15 minutes following the first finish. Crews finishing outside of these limits will be scored DNF.
The top three sailors or teams in each event will receive an ISAF gold, silver or bronze medal. In addition to this the winning crew or sailor in their event will receive the following trophies.
There are also an additional three special trophies. The Bengt Julin Trophy, or Sportsmanship Award, may be awarded to a sailor who has shown exceptional behaviour and rules compliance during the Championship. The winner will be selected by the chairman of the ISAF Youth Sailing Championship Sub-committee in conjunction with the organizing authority and jury. The Prince Henry the Navigator Cup may be awarded to the double-handed crew, single-handed boy or girl, or windsurfing boy or girl, who has shown exemplary sportsmanship during all the races.
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The Volvo Trophy is awarded to the nation which accrues the highest number of points. Nations score points by taking the best four race scores from their sailors in each of the seven fleets. Only finishes between first and tenth score points, with a win earning a nation ten points, a second place nine points etc. through to a tenth place, which earns a nation one point. If all of the fleet have not completed the same number of races then only points from races completed by all fleets will be counted. Therefore a first place in race twelve of the Laser fleet would not count towards the total if the Hobie 16 fleet had only completed eleven races. Finally any ties between nations are decided in the favour of the nation with the best score in the last race. If a tie still remains then it will go on to the next to last race and so on until the tie is broken.