The nature and form of teacher and peer mediation in conflicts among 5-year-olds enrolled in kindergarten in Korea were systematically examined. Children were observed during free play on three consecutive days. A total of 278 cases of conflicts were observed and details about the conflict and intervention were coded. Results showed that teachers intervened in about half of the conflicts and that conflicts tended to last longer when there was third party intervention than in other cases. Teachers appeared to be more effective mediators than peers because they played a more active role in the conflict resolution process and utilized a wider range of strategies. When teachers intervened, conflicts were more likely to result in a “win-win” resolution for both parties involved in the conflict. Implications of the findings are discussed.