Koreas agree to hold new summit in Pyongyang in September

North Korean leader Kim Jong Un and South Korean President Moon Jae-in at the inter Korean summit in April

North Korean leader Kim Jong Un and South Korean President Moon Jae-in at the inter Korean summit in April

While a cease-fire exists between the USA and North Korea due to an armistice, the two governments never agreed to a permanent peace agreement after the Korean War.

Before the Moon-Kim summit, the inter-Korean summit meetings had been held only twice in 2000 and 2007 both in the DPRK's capital of Pyongyang. "But I do believe that this is worth the effort and the United States and our allies, especially us and the Republic of Korea, we have the same goal, that's the final, fully verified denuclearization of the Korean Peninsula".

South Korean Unification Minister Cho Myoung-gyon crosses the concrete border to attend a meeting with his North Korean counterpart Ri Son Gwon at the truce village of Panmunjom inside the demilitarized zone, North Korea, August 13, 2018. Both the South and North have common interests in holding an early top-level meeting.

Cho said the two sides had exchanged views on the North's denuclearisation and on a peace mechanism to replace the armistice that ended fighting during the Korean War. Suh was caught by South Korean troops at the joint security area of Panmunjom, at a reservoir located 6 kilometers away from the bridge. The Korean Peninsula remains technically in a state of war.

"But only if Chairman Kim fulfills his commitments to denuclearise". He previously served as the head of the US Pacific Command.

Turkey doubles tariffs on some US imports; lira rallies
The country's Finance Minister will seek to reassure around 1,000 worldwide investors in a teleconference scheduled for Thursday. Since January, the Turkish lira has lost more than 34% of its value against the dollar, pushing up the price of everyday items.

This is yet another indication that the North does not intend to denuclearize soon.

The regime's external propaganda website, Uriminzokkiri, said South Korea is "blindly obeying" the American-led sanctions, which it said is a major reason progress has slowed in the implementation of the Panmunjom Declaration signed by the South and North Korean leaders back in April.

Last week, North Korea complained that some high-level USA officials were "going against the intention of President Trump" by sticking to "old scenarios" and taking a hard line on maintaining sanctions on the country. It has also used peace and reconciliatory events with the South as grounds for its negotiations with the US.

South Korean officials said the Pyongyang summit would help improve cross-border ties. Police reports say that Suh was detained by North Korean authorities for 16 days after illegally entering the North via China last month.

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