Source: cnbc.com

North and South Korea are in talks to announce a permanent end to the officially declared military conflict between the two countries, daily newspaper Munhwa Ilbo reported Tuesday, citing an unnamed South Korean official.

Ahead of a summit next week between North Korean premier Kim Jong Un and South Korean President Moon Jae-in, lawmakers from the neighboring states were thought to be negotiating the details of a joint statement that could outline an end to the confrontation.

Kim and Moon could also discuss returning the heavily fortified demilitarized zone separating them to its original state, the newspaper said.

Pyongyang and Seoul have technically been at war since the 1950-1953 Korean conflict ended with a truce — and not a peace treaty. Geopolitical tensions have occasionally flared up since the armistice, although to date both countries have managed to avoid another devastating conflict.

A successful summit between the Koreas later this month could help pave the way for a meeting between Kim and President Donald Trump. The U.S. president and North Korean leader are poised to hold talks in late May or June, according to the Korean Central News Agency (KCNA).