The leaders of North and South Korea on Friday agreed to pursue "complete" denuclearization on the Korean Peninsula and strive to declare a formal end to the 1950-1953 Korean War following what they both hailed as a "historic" inter-Korean summit.

In the joint declaration signed by South Korean President Moon Jae In and North Korean leader Kim Jong Un, they "confirmed the common goal of realizing, through complete denuclearization, a nuclear-free Korean Peninsula," in a possible sign of progress in leading the North to give up its nuclear weapons.

(Korea Summit Press Pool)

The inter-Korean talks, the first such meeting in over a decade, have drawn worldwide attention, being seen to have critical importance for laying the groundwork for a first-ever meeting between leaders of the United States and North Korea, expected by early June.

U.S. President Donald Trump has vowed to continue pressuring the North through international economic sanctions unless it takes concrete steps to give up its nuclear and missile development in a "complete, verifiable and irreversible" way.

The Panmunjeom Declaration, taking the name of the truce village where the summit was held, was adopted amid a reconciliatory mood between Moon and Kim who highlighted how the two sides are moving toward realizing peace on the Korean Peninsula, which just months ago was feared to be teetering on a brink of conflict.

"The new era of peace has finally opened and we are declaring that," Moon told reporters through a translator while standing alongside Kim. Kim, who became the first North Korean ruler to cross over to the southern side of the border of the two countries that remain technically at war, said the latest summit will "turn a new page, new history for us."

(Inter-Korean Summit Press Corps)

Earlier, after Kim stepped over a 50-centimeter-long concrete slab on the borderline to reach the southern side, Moon told him that the slab no longer represents a "symbol of division" between the two Koreas but rather a "symbol of peace."

North Korea, which has continued to advance its missile and nuclear weapons programs in defiance of international pressure, has expressed its commitment to denuclearization in recent months and also announced a halt to nuclear tests and long-range missile launches less than a week before the summit.

But skepticism remains over whether Kim is serious about surrendering his country's nuclear weapons or is just seeking to win concessions from the international community, such as the easing of economic sanctions imposed on his country over its weapons programs.

In an apparent effort to address the concerns, Moon emphasized during the joint press announcement that he and Kim have agreed that "a complete denuclearization (on the Korean Peninsula) will be achieved" and that it "will be starting."

The declaration did not elaborate on how to achieve denuclearization. Kim vowed to implement the agreement, but did not specifically refer to denuclearization during the press announcement.

(Korea Summit Press Pool)

The following is a gist of a joint declaration signed between North Korean leader Kim Jong Un and South Korean President Moon Jae In after their summit talks Friday in Panmunjeom.

North and South Korea:

-- confirm common goal of achieving nuclear-free Korean Peninsula through complete denuclearization.

-- agree to pursue 3-, 4-way meetings also involving the United States and China to declare end to 1950-53 Korea War and achieve peace regime this year.

-- agree Moon, Kim will hold talks on regular basis.

-- agree to open joint liaison office in Kaesong, North Korea.

-- agree to hold war-separated family reunions around Aug. 15

Moon agrees to visit Pyongyang this fall.

(Korea Summit Press Pool)

On ways to establish a peace regime on the Korean Peninsula to do away with "the current unnatural state of armistice," the declaration said the two countries will strive toward declaring the Korean War over. It ended in a cease-fire, not a peace treaty.

"During this year that marks the 65th anniversary of the armistice, South and North Korea agreed to actively pursue trilateral meetings involving the two Koreas and the United States, or quadrilateral meetings involving the two Koreas, the United States and China with a view to declaring an end to the war, turning the armistice into a peace treaty," the document said.

North Korea has long pressed the United States for a peace treaty as a way to ensure the survival of its regime. A security guarantee is a prerequisite for the North to give up its nuclear arms, which it touts as its "treasured sword" to defend against the "hostile policies" of the United States and its allies.

But seeking a peace treaty cannot be addressed only by the two Koreas, as the armistice was signed by the U.S.-led United Nations Command, Chinese forces and North Korea. South Korea is not a party to the 1953 agreement.

(Korea Summit Press Pool)

In the war, North Korea sought by force to reunite the Korean nation, divided at the 38th parallel into a Soviet-occupied north and a U.S.-occupied south at the conclusion of World War II. The peninsula remains split by the Demilitarized Zone, or DMZ, along that parallel.

To ease military tensions and reduce the danger of renewed war on the Korean Peninsula, the two leaders said they agreed to "completely cease all hostile acts against each other in every domain" that are the source of military tension and conflict.

The two countries will transform the DMZ into "a peace zone" by ceasing as of Tuesday propaganda broadcasting through loudspeakers and distribution of leaflets, among other acts deemed hostile to one another in the areas along the border.

Moon and Kim also agreed that they will hold both direct and telephone talks on a regular basis to discuss major inter-Korean issues. Summits have been only held three times in total, the previous ones in 2000 and 2007 in Pyongyang.

(Young Koreans wave unification flags in Paju, South Korea, while watching summit coverage on a large screen)

Moon agreed to visit Pyongyang this fall, the document said. The two countries also agreed to hold reunions of families separated by the Korean War around Aug. 15, in another sign of thawing relations.

In a gesture of hope and peace and prosperity, Moon and Kim jointly planted a commemorative pine tree on the Military Demarcation Line that runs through the middle of the DMZ, a 4-kilometer wide, 250-km-long stretch of land.

Throughout the day, the 65-year-old South Korean president and Kim, around half his age, were seen having friendly exchanges, including handshakes, smiles and even a hug. They also spent some 30 minutes in private discussion while strolling outdoors along a wooden boardwalk and then sitting down at a bench.

Inter-Korean relations have rapidly thawed following North Korea's sudden diplomatic outreach in recent months, starting from its decision to take part in the Pyeongchang Winter Olympics hosted by South Korea in February.

(A protest is staged in Paju, South Korea, on the same day as the inter-Korean summit) 

The following is a gist of remarks made by North Korean leader Kim Jong Un and South Korean President Moon Jae In at the morning session of their summit talks Friday in Panmunjeom.

Kim said:

-- he hopes to write a new chapter between the two countries.

-- he came to end the history of confrontation between the two Koreas.

-- he hopes the summit will become a starting point for the two countries to join hands and look toward the future.

-- he would like to have talks in a frank and candid manner and create good results.

-- he came to Panmunjeom thinking he would try to regain the 11 years the two countries lost and move forward, in reference to the last inter-Korean summit held in 2007.

-- he and Moon should meet more frequently and that he would visit the South Korean presidential office if invited.

-- he promises not to wake up Moon any more by test-firing ballistic missiles in the early morning.

Moon said:

-- he urges Kim to make a bold decision to reach an accord that would become a gift to people in the world wishing for peace.

-- the demarcation line is no longer a symbol of division and became a symbol of peace when Kim crossed it.

-- he had many good discussions today.

More on inter-Korean summit:

Kim Jong Un voices hope for start of new chapter of Korea's history

Moon, Kim shake hands, raising hope for formal end of Korean War

Kim becomes 1st North Korean leader to cross inter-Korean border

South Korea's Moon no stranger to inter-Korean diplomacy

North Korea's Kim remains an enigma on world stage

Inter-Korea summit media center booming, some feel let down