Division II consisted of two separate tournaments. The Group A tournament was held between 17 and 23 March 2003 in Tallinn, Estonia and the Group B tournament was held between 5 and 11 March 2003 in Belgrade, Federal Republic of Yugoslavia. South Korea and Romania won the Group A and Group B tournaments respectively and gained promotion to Division I for the 2004 IIHF World U18 Championships. While Bulgaria finished last in Group A and South Africa last in Group B and were both relegated to Division III for 2004.