Unification Minister Cho Myoung-gyon has said that the current situation on the Korean Peninsula is the start of a "new beginning" for the region.  

Speaking at an annual forum hosted by the Korea Peace Foundation on Friday, Cho said it still feels as if we are walking on thin ice as he offered what he called a realistic and objective assessment on the political situation on the peninsula.  

The minister said a new paradigm for peace in the region is currently being created through events such as the inter-Korean summit and the U.S.-North Korea summit.

Cho also said it's necessary to establish peace one step at a time and that every step is crucial, adding that patience and a long-term view is required.