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North and South Korea, the US, and China have agreed in principle to declare a formal end to the Korean War, says the South's President Moon Jae-In.
But talks have yet to begin because of North Korea's demands, he added.
The Korean War, which lasted from 1950 to 1953, ended with an armistice and not a peace treaty.
North and South Korea have technically been at war ever since - backed by China and the US respectively - and locked in a tense relationship.
In September Kim Yo-jong, the powerful sister of North Korean leader Kim Jong-un, signalled that her country could be open to talks, but only if the US dropped what she called a "hostile policy" against them.
On Monday, Mr Moon said that North Korea had set this demand as a pre-condition to discussions.
"Because of that, we are not able to sit down for a discussion or negotiation on the declaration... we hope the talks will be initiated," he said.
The South Korean leader has made engagement with the North a cornerstone of his presidency, and has previously argued that a formal declaration to end the war would encourage the North to give up its nuclear weapons.
Mr Moon, who is currently visiting Australia, was speaking at a joint press conference in Canberra along with Australian Prime Minister Scott Morrison.