Minister of Unification Chung Dong-young said that securing a new basic agreement between North and South Korea would contribute to the two sides' peaceful coexistence on the Korean Peninsula.

At a seminar hosted by the Ministry of Unification and the Korean Association of North Korean Studies on Wednesday, Chung said reconciliation and cooperation between the two Koreas would require the "institutionalization" of peace.

The minister advocated for a new pragmatic approach to cross-border relations and the easing of hostilities.

Chung affirmed the three-point principle of recognizing the North Korean regime, not seeking unification by absorption and refraining from hostility that President Lee Jae Myung outlined at the United Nations General Assembly and pledged to push for the restoration of inter-Korean trust and normalization of ties.

The minister also mentioned the Basic Treaty between the former East and West Germany as a model for potential coexistence between the two Koreas.