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South Korea and North Korea have agreed to peace talks as such a development on the Korean peninsula. The military exercises and public rhetoric have ramped up for months, and this is the latest round of the sort of diplomacy. The discussions, focused at reducing the military tensions and promoting economic cooperation are seen as a possible turning point for the region. The two countries have agreed to set up a joint security, cultural exchange committees and to reunify the peninsula in due course. Both global leaders, like U.S., China and Russia, are keenly anticipating these negotiations and hope it could finally pave the way for a lasting peace agreement.
