The Cabinet approved a motion seeking parliamentary ratification of the Panmunjeom Declaration adopted at the April inter-Korean summit.
This comes 138 days after the two Koreas agreed to the summit accord.
The government seeks the ratification motion to obtain parliament support for follow-up measures to the summit agreement.
The Unification Ministry will now submit the bill to the National Assembly.
An estimation on the costs of implementing the Panmunjeom Declaration is also expected to be submitted along with the motion.
The presidential office and the government sought to secure bipartisan support for the declaration ahead of next week's inter-Korean summit in Pyongyang.
But rival party floor leaders on Monday agreed to discuss the issue of ratifying the summit accord after the Pyongyang summit meeting is over.