North and South Korea commit to 'era of no war'

Hero's welcome for Moon Jae-in carries Pyongyang's hope of nuclear breakthrough

Inter-Korea summit: Two Koreas sign joint agreement after leaders' one-on-one summit

"Hero remains to continue being", he added.

"We have agreed to make positive efforts to make the Korean Peninsula a land of peace that has no nuclear weapons and nuclear threat", Kim said at a press conference with Moon after they signed a joint declaration.

In a joint statement after the summit with Moon, Kim pledged to permanently abolish North Korea's key missile facilities in the presence of foreign experts.

Wednesday's talks took place at the Paekhwawon official guesthouse on the outskirts of Pyongyang.

According to a statement signed by the countries' defence chiefs, the two Koreas agreed to establish buffer zones along their land and sea borders to reduce military tensions and prevent accidental clashes.

"The two Koreas agreed to jointly take part in global competitions, including the 2020 Summer Olympics, and to seek to jointly host the 2032 Summer Olympics", said the joint declaration signed by the two leaders on the second day of the three-day summit.

Previously, the leaders held talks on April 27 and May 26 in the border village of Panmunjom, in an unprecedented effort to reconcile the two nations following the Korean War (1950-53).

Some South Korean firms had been accused of importing coal from the North disguised as Russian shipments in violation of United Nations sanctions, which critics say raises questions about Seoul's will to vigorously enforce worldwide sanctions.

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"We can take military measures to achieve the goal of the "armistice agreement" by making the demilitarized zone into peace zone for the first time in 65 years", the defense ministry said in a separate statement. As a preliminary measure, all guard posts that are closer than 1 kilometer from each other will be withdrawn.

North Korea has been demanding a declaration formally ending the Korean War, which was stopped in 1953 by a ceasefire, but neither leader mentioned it as they read the joint statement.

In May, North Korea dismantled Punggye-ri, its only known nuclear test site.

North Korea is believed to have earned hundreds of millions of dollars by skirting layers of U.N. Security Council sanctions dating back to 2006, the year of its first nuclear test, trading in banned minerals and weapons. But the offer comes with a caveat.

Vipin Narang, an associate professor of political science at the Massachusetts Institute of Technology, tweeted that the Moon-Kim summit had made the Korean peninsula safer.

But there was no mention of North Korea producing an inventory of its nuclear stockpiles and nuclear-related facilities in the joint statement or at the press briefing, which the US sees as a vital step toward denuclearization. "He could offer something more specific that Moon can deliver to Trump when he meets him in NY next week". "By creating the Korean Peninsula as a permanent space for peace, we will be able to return the normality of our lives".

"We had very good news from North Korea, South Korea". Washington is demanding concrete action towards denuclearization before agreeing to key goals of Pyongyang - declaring an official end to the 1950-53 Korean War and easing tough global sanctions.

Kim also said he "promised" to visit the South Korean capital of Seoul "in the near future".

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In addition, the two leaders agreed that before the end of the year, they would participate in groundbreaking ceremonies to link railways along the east and west coasts of the Korean peninsula.

"As soon as conditions are right, the resumption of the Mount Kumgang tours and the joint Kaesong industrial complex will follow", said Moon.

"Also, North Korea has agreed to take additional measures such as the permanent dismantling of Nyongbyon nuclear facility if there are corresponding measures from the U.S.".

The North and South Korean militaries agreed at working-level military talks earlier in the month that the specific area of maritime peace zone and joint fishing zone will be decided by the Inter-Korean Joint Military Committee.

Bruce Bennett, of the RAND Corporation in California, said Moon's strategy could put Seoul at odds with the United States.

The agreement also said the Koreas would field a joint team at the 2020 Tokyo Olympics and - in another bombshell - would bid to jointly host the 2032 Summer Olympics.

On the issue of families separated by the Korean War, the two leaders agreed to open visiting centers where divided families could be reunited with their loved ones.

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