The leaders of North and South Korea have committed to a denuclearisation of the Korean peninsula in a joint statement at a historic summit.

Kim Jong-un and Moon Jae-in embraced as it was announced the two Koreas are to seek a peace 'regime' to end the Korean War.

Moon also announced at the summit in Panmunjom that he would visit Pyongyang later this year as they concluded their second round of negotiations.

"South and North Korea confirmed the common goal of realising, through complete denuclearisation, a nuclear-free Korean peninsula," they said in a joint statement.

Kim Jong-un, regarded last year as an international pariah after conducting his sixth nuclear test, promised a "new beginning" and hailed a new era of peace as he vowed not to repeat the "mistakes of the past".

South Korean President Moon Jae-in urged "bold" decisions that would be a "great gift" to humanity.

The two men shook hands as they met for the first time, and Kim became the first North Korean leader to cross over to the southern side of the Demilitarized Zone since the Korean War ended in 1953 .

After initial talks today, they broke for lunch in their respective countries before re-emerging for a ceremonial tree planting ceremony, which was laden with symbolism.

Kim and Moon planted a pine tree - standing for peace and prosperity - with soil and water from both countries.

The tree is said to have been seeded in 1953 - the year the Korean War ended.

The leaders' historic meeting began at 9.30am local time as Kim emerged from the Panmungak, the North's symbolic building 80m north of border, with a large entourage including his younger sister, Kim Yo-jong.

The meeting of the two leaders was only the third in the history of the two nations, and it has raised hopes of finding an eventual solution to international tensions over Pyongyang's nuclear and missiles programmes.

The images, broadcast live around the world, were highly emotional for the divided Korean peninsula, which never formally ended the Korean War of 1950-53.

In a vast press room a few miles from the location of the talks in Panmunjom, South Korean journalists gasped and applauded.

But on the streets of South Korea, protesters burned North Korean flags, and as the talks prepare to resume, little has been revealed of actual progress towards resolving one of the world's most pressing security threats.