North and South Korea agreed Friday to formally notify the International Olympic Committee of their intent to prepare a joint bid for hosting the 2032 Olympics.
The agreement was reached at talks between sports officials of the two countries at a joint liaison office in Kaesong just inside the North Korean side of the border, officials said.
The two sides also confirmed that they will cooperate with the IOC and various international federations with regard to forming unified teams at the 2020 Tokyo Summer Olympics.
To that end, they will field a unified team at the 2019 World Men's Handball Championship in Denmark and Germany.
At their summit in Pyongyang in September, South Korean President Moon Jae In and North Korean leader Kim Jong Un signed a declaration saying the two Koreas agreed to participate in the 2020 Tokyo Olympics together and cooperate in trying to co-host the Summer Games in 2032.
North and South Korea formed a joint team in women's ice hockey in the Winter Olympics in Pyeongchang in February. It was the first time that inter-Korean athletes to have competed together in Olympics history.
The two divided Koreas fielded unified teams in women's basketball, rowing and canoeing at this year's Asian Games in Indonesia.
Also Friday, South and North Korea for the first time in about 10 years exchanged information on foreign boats illegally fishing in the Yellow Sea on the west side of the peninsula, the South Korean Defense Ministry announced. The information was shared at around 9 a.m. through their military communication line.
Such exchanges are aimed at preventing accidental military clashes.