South and North Korea agree 'in principle' to end Korean war, says Moon Jae-in 

South Korean President Moon Jae-in has said that his country, along with the US, China and North Korea, has agreed to declare 'in principle' formal end to Korean war. North and South Korea, at least on paper are still at war with each other. The actual war that resulted in division of the Korean peninsula was fought between 1950-53.

Moon Jae-in was speaking at press conference alongside Australian Prime Minister Scott Morrison in Canberra. Moon Jae-in is on tour of Australia.

The South Korean President conceded that talks to end the Korean war were not moving ahead as they should due to North Korea's objections over present day 'hostility' from the US.

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“And because of that, we are not able to sit down for a negotiation on the declarations between South and North Korea, and those between North Korea and United States,” he said as quoted by The Guardian.

“And we hope that talks will be initiated. We are making efforts towards that.”

The Korean war fought almost seven decades ago did not end in peace treaty but an armistice. This makes the war technically still on.

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Calling the armistice 'unstable', Moon Jae-in said that a formal end to the Korean war would be a step towards achieving peace on the peninsula. It would also be a breakthrough for negotiations over North Korean nuclear program.

Just hours after Moon Jae-in's statements, South Korea's unification minister, Lee In-young said that a formal end to Korean war would be a “turning point for a new phase for peace”.

(With inputs from agencies)