Summit Expectations

[Anchor Lead]

South Korea's presidential office says that a formal end to the Korean War could be signed at the second summit between the leaders of North Korea and the U.S. President Moon Jae-in said he will prepare for building a new order on the Korean Peninsula, if the summit goes successfully and paves the way for North Korea's opening to the outside world.

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President Moon Jae-in has said recently that the South Korea-U.S. alliance, inter-Korean relations and the ties between Pyongyang and Washington are better than ever. He added that if the North Korea-U.S. summit in Vietnam goes successfully, it will eliminate the threat of war on the Korean Peninsula and lay a foundation for ushering in an era of peace and prosperity.

[Soundbite] Moon Jae-in(President) : "If North Korea opens up its economy, it will attract neighboring nations, international organizations and international capital. South Korea must maintain its lead in that process."

Moon stressed that the fate of the Korean Peninsula is in the hands of the Korean people, who must play a more pro-active role in building peace and economic prosperity after the Pyongyang-Washington summit. The president vowed to take center stage in shaping history if the summit talks turn out to be a success.

[Soundbite] We will prepare for a new economic order on the Korean Peninsula that will pursue peace and coexistence instead of war and conflict, and economic growth and prosperity instead of ideological differences.

Meanwhile, the nation's senior office for the first time mentioned the possibility of the leaders of North Korea and the U.S. putting a formal end to the Korean War at the upcoming meeting in Vietnam. Cheong Wa Dae spokesperson Kim Eui-kyeom said that even if the peace treaty is signed only by Pyongyang and Washington, it will be enough to speed up denuclearization. Kim added that of the four nations that fought in the Korean War, diplomatic relations have already been established between South Korea and China, and the United States and China. He said that South and North Korea have also agreed on non-aggression, and that Pyongyang and Washington are the only two sides that need to normalize their relations. A Cheong Wa Dae official said that the prospect of a formal end to the Korean War and President Moon's plan for building a new economic order on the Korean Peninsula probably reflect progress in the working-level talks between North Korea and the United States.