The first few months of 2019 could be a critical juncture in peninsular developments, with emphasis on February and March.   

That's the thought of South Korea's Unification Minister Cho Myoung-gyon, who told reporters Wednesday that both North Korea and the U.S. have important domestic goals to achieve by 2020 for which they are likely to lay the groundwork early next year. 

North Korea is marking the 75th anniversary of the establishment of the Workers' Party in 2020. Pyongyang is aiming to realize considerable economic goals by then, for which the lifting of sanctions will be of paramount importance. In the U.S., the Democrat-led House of Representatives begins its term in February. This means President Donald Trump is likely to face mounting pressure ahead of the next presidential election in November 2020.  

A second U.S.-North Korea summit could also take place in January or February. 

Against this backdrop, Seoul's Unification Ministry is watching where North Korea's denuclearization will figure into the two states' priorities, and whether negotiations in earnest will indeed start in the first few months of the year. 

A ministry official said if there is no progress in nuclear talks between Washington and Pyongyang even after February and March next year, circumstances could turn more difficult and have negative effects on the nuclear talks and inter-Korean relations.