South Korean President Moon Jae-in walks with North Korean leader Kim Jong Un at the truce village

North and South Korea will begin talks aimed at signing a peace treaty to formally end the Korean War 65 years after hostilities ceased, Kim Jong-un and Moon Jae-in have announced.

Mr Moon and Mr Kim said they would hold three- or four-way discussions with the US and possibly China on bringing a formal end to the 1950-53 conflict, with a view to signing the treaty later this year.

The two Koreas have also agreed to rid the peninsula of nuclear weapons during a historic summit between their leaders at the border truce village of Panmunjom.

The leaders of North and South Korea signed a joint declaration on Friday agreeing to work for the "complete denuclearisation of the Korean peninsula".

Korea Summit: Kim Jong-un crosses border for historic meeting Show all 25 1 /25 Korea Summit: Kim Jong-un crosses border for historic meeting Korea Summit: Kim Jong-un crosses border for historic meeting North Korean leader Kim Jong-un and South Korean President Moon Jae-in raise their hands after signing on a joint statement Korea Summit Press Pool via AP Korea Summit: Kim Jong-un crosses border for historic meeting Kim Jong-un heads towards Moon Jae-in to shake his hand between the military demarcation line, at the Joint Security Area on the Demilitarized Zone in the border village of Panmunjom in Paju EPA Korea Summit: Kim Jong-un crosses border for historic meeting South Korean President Moon Jae-in and North Korean leader Kim Jong-un hold hands as they cross the military demarcation line EPA Korea Summit: Kim Jong-un crosses border for historic meeting South Koreans react while watching a screen reporting the Inter Korean Summit Getty Korea Summit: Kim Jong-un crosses border for historic meeting South Korean President Moon Jae-in and North Korean leader Kim Jong-un chat as they arrive at the Peace House Reuters Korea Summit: Kim Jong-un crosses border for historic meeting North Korea’s leader Kim Jong-un was escorted by bodyguards from the North to the Military Demarcation Line that divides the two Koreas to meet with his South Korean counterpart at the truce village AFP/Getty Korea Summit: Kim Jong-un crosses border for historic meeting North Korean leader Kim Jong-un crosses the military demarcation line to meet with South Korean President Moon Jae-in AP Korea Summit: Kim Jong-un crosses border for historic meeting Kim Jong-un and Moon Jae-in shake hands Getty Korea Summit: Kim Jong-un crosses border for historic meeting North Korean leader Kim Jong-un and South Korean President Moon Jae-in shake hands after Kim crossing the military demarcation line Getty Korea Summit: Kim Jong-un crosses border for historic meeting South Korean President Moon Jae-in and North Korean leader Kim Jong-un at the Joint Security Area EPA Korea Summit: Kim Jong-un crosses border for historic meeting South Korean President Moon Jae-in and North Korean leader Kim Jong-Un speak with two South Korean children who presented Kim Jong-un with a bouquet of flowers EPA Korea Summit: Kim Jong-un crosses border for historic meeting Moon Jae-in Kim Jong-un pose for photographers at the Joint Security Area (JSA) EPA Korea Summit: Kim Jong-un crosses border for historic meeting North Korean leader Kim Jong-un signs the guest book as South Korean President Moon Jae-in looks on Getty Images Korea Summit: Kim Jong-un crosses border for historic meeting North Korean leader Kim Jong-un’s entry in the guestbook. The writing reads ‘A new history starts now. An age of peace, from the starting point of history’ Korea Summit Press Pool/Pool via Reuters Korea Summit: Kim Jong-un crosses border for historic meeting South Korean President Moon Jae-In and North Korean leader Kim Jong-un talk during their summit meeting at the Peace House EPA Korea Summit: Kim Jong-un crosses border for historic meeting North Korea's leader Kim Jong-un smiles AFP/Getty Korea Summit: Kim Jong-un crosses border for historic meeting North Korean leader Kim Jong-un poses with South Korean President Moon Jae-in for a photo inside the Peace House AP Korea Summit: Kim Jong-un crosses border for historic meeting North Korea’s leader Kim Jong-un talks with South Korea’s President Moon Jae-in AFP/Getty Korea Summit: Kim Jong-un crosses border for historic meeting North Korean leader Kim Jong-un and South Korean President Moon Jae-in prepare to plant a pine tree near the military demarcation line AP Korea Summit: Kim Jong-un crosses border for historic meeting South Korean President Moon Jae-in and North Korean leader Kim Jong-un applaud after planting a tree at the truce village Korea Summit Press Pool/Pool via Reuters Korea Summit: Kim Jong-un crosses border for historic meeting North Korea’s leader Kim Jong-un and South Korea’s President Moon Jae-in take a walk after they planted a tree AFP/Getty Korea Summit: Kim Jong-un crosses border for historic meeting North Korea’s leader Kim Jong-un talks with South Korea’s President Moon Jae-in at a bench on a bridge next to the military demarcation line at the truce village of Panmunjom AFP/Getty Korea Summit: Kim Jong-un crosses border for historic meeting North Korean leader Kim Jong-un and South Korean President Moon Jae-in sign on a joint statement Korea Broadcasting System via AP Korea Summit: Kim Jong-un crosses border for historic meeting North Korean leader Kim Jong-un and South Korean President Moon Jae-in embrace each other after signing on a joint statement Korea Summit Press Pool via AP Korea Summit: Kim Jong-un crosses border for historic meeting North Korean leader Kim Jong-un, left, and South Korean President Moon Jae-in shake hands after their joint announcement AP

At their first summit in more than a decade, the two sides announced they would seek an agreement to establish "permanent" and "solid" peace on the peninsula.

The declaration included promises to pursue military arms reduction, cease "hostile acts", turn their fortified border into a "peace zone", and seek multilateral talks with other countries, such as the US.

Earlier, Kim Jong-un and South Korean President Moon Jae-in poured a mixture of soil and water from both countries onto a pine tree they planted at a truce village as a symbol of peace before resuming their highly anticipated summit.

Mr Kim and Mr Moon also unveiled a stone plaque placed next to the tree that was engraved with a message saying "Peace and Prosperity Are Planted."

The pine tree dates to 1953, the year the Korean War ended in an armistice. The soil and water were brought from the Koreas' mountains and rivers.

The leaders then talked while walking unaccompanied on a nearby bridge before they are expected to resume the afternoon session of their summit at Panmunjom.