Unification Minister Lee Jae-joung says the two Koreas are at a stage where they may consider an economic community on the Korean Peninsula.

Speaking at the YMCA Peace Forum in Seoul on Thursday, Lee noted the focus in inter-Korean relations thus far has been on humanitarian aid, cooperation and exchanges.

He went on to say that in order to take their relations up a notch, the two sides should strive to resolve issues concerning food, industrial resources, production, and distribution, thus contributing to peace in Northeast Asia.

On the North Korean nuclear issue, Lee expected that the first phase of February's six-way nuclear dismantlement deal would be implemented in mid-April.

Implementation of the accord has been held up by the delayed transfer of North Korean funds frozen at Macao's Banco Delta Asia bank.