Kim Jong-un has stepped across the border with South Korea for historic talks with President Moon Jae-in.

The meeting marks the first time one of the ruling Kim leaders has crossed over to the southern side of the Demilitarised Zone since fighting in the Korean War stopped in 1953.

The two Koreas are technically still at war given no peace treaty was ever signed.

Holding hands, the two Korean leaders met face-to-face for the first time in a moment that seemed impossible just months ago.

Walking over the world’s most heavily armed border to greet his rival, Kim invited Moon to cross briefly north with him before they returned to the southern side.

Moon shook hands with his North Korean counterpart, telling him: “I am happy to meet you.”

Kim said he was ready for “heartfelt, sincere and honest” talks and said the Koreas must not repeat the past where they were “unable to fulfil our agreements”.

“I came here determined to send a starting signal at the threshold of a new history,” Kim told him promising a “frank, serious and honest mindset”.

Kim also joked that he hoped Moon would enjoy North Korea’s famous cold noodles that will be brought to the banquet after the summit, saying it was difficult to bring the noodles from capital Pyongyang.

He then turned to his sister sitting to his left and said “maybe I shouldn’t have said (Pyongyang) was far”.

The historic moment is the third such summit for the Koreas. (Photo / Getty)

HISTORIC MEETING

The two leaders were then escorted by South Korean honour guards to a welcoming ceremony before beginning official proceedings at Peace House, a South Korean building inside the border village of Panmunjom.

Kim’s promise to wind down his weapons program will be at the top of the agenda during the meeting, which is expected to run into the afternoon.

Seoul hopes Kim will confirm his willingness for “complete” denuclearisation of the peninsula.

The two leaders are then expected to release a joint statement later this afternoon, possibly called the Panmunjom Declaration, which could address denuclearisation and peace.

Today’s meeting is only the third time that the leaders of the divided Koreas have met in the 65 years.

The first inter-Korean summit took place between former North Korean leader Kim Jong-l, the late father of the current leader, and the liberal former president of South Korea, Kim Dae-jung in 2000.

The Koreas held their second summit in October 2007 between Kim Jong-il and Roh Moo-hyun, Kim Dae-jung’s liberal successor and the political mentor of current South Korean President Moon.

South Koreans hold up placards of South Korean President Moon Jae-In and North Korean leader Kim Jong-un during a rally welcoming the summit. (Photo / Getty)

WHY IS TODAY’S MEETING SIGNIFICANT?

Kim is the first North Korean leader to visit since 1953 when the Korean War ended with a ceasefire agreement.

The historic meeting comes ahead of a planned summit between the North Korean leader and Trump.

Just months ago, the two leaders were trading threats and insults as North Korea’s rapid advances in pursuit of nuclear-armed missiles capable of hitting the US raised fears of a fresh conflict on the Korean peninsula.

In a bold move, Kim announced North Korea would suspend nuclear and long-range missile tests and dismantle its only known nuclear test site.

However many experts remain sceptical about whether the North Korean leader is ready to abandon the hard-earned nuclear arsenal his country has defended and developed for decades.

In a statement, the White House said it wished the Korean people well and were hopeful that talks will achieve progress toward a future of peace and prosperity for the entire Korean Peninsula.

“The United States appreciates the close co-ordination with our ally, the Republic of Korea, and looks forward to continuing robust discussions in preparation for the planned meeting between President Donald J. Trump and Kim Jong Un in the coming weeks,” the statement said.

The Korean leaders pose with children as they meet at the Military Demarcation Line that divides their countries at Panmunjom. (Source / AFP)

KIM’S MOTIVES

According to Dr Leonid Petrov, a leading expert on North Korea, Kim and Moon may have completely different political motives and goals but their intentions coincided this year.

Dr Petrov, a visiting fellow at the Australian National University College of Asia and the Pacific, said Kim desperately needs to steer North Korea away from an imminent disaster such a nuclear war, a domestic upheaval or both.

“Moon, in contrast, needs to keep South Korea in the comfort zone of the US alliance and export-oriented economic trajectory in the quickly changing global trade and political climate,” Dr Petrov said.

“Meeting and talking about inter-Korean reconciliation and economic co-operation will not only boost the two leaders’ popularity at home but will also give confidence to the neighbouring powers, who have been waging Hot and Cold Wars in Korea for regional domination since the late 19th century.”

Dr Petrov said everyone seems to realise that without peace in Korea there will be no ultimate security and prosperity in the Asia-Pacific region as a whole.

Dr Malcolm Davis, senior analyst in defence strategy and capability at the Australian Strategic Policy Institute, said he expected Kim will want the South to make concessions in return for the North agreeing to a peace settlement.

However he warned any cut and dry deal was unlikely to happen today.

"I don’t expect a peace agreement to be negotiated today. This is the beginning of a long process,” Dr Davis said.

“The North Koreans have said the US can maintain forces on the Peninsula, but once a peace settlement is signed, I’m expecting the North Koreans to insist that those forces be dramatically reduced in size and posture changed to a peacekeeping role.”

Dr Davis said he remained sceptical over what Kim means by denuclearisation.

“The North may see denuclearisation quite differently, and will resist intrusive inspections,” he said.

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