Prime Minister Lee Nak-yon said it's time to establish lasting peace on the Korean Peninsula in remembrance of the Korean War.

In his speech marking the 69th anniversary of the outbreak of the Korean War on Tuesday, Lee emphasized there should be no political divisions on the path towards peace, adding that the government will remain steadfast in its peace initiative.

The prime minister then expressed hope for progress in efforts towards North Korea's denuclearization following a series of summit meetings to be held on the sidelines of the G20 Osaka forum this week and U.S. President Donald Trump's visit to Seoul on the weekend.

Reiterating the need to establish peace, Lee said the two Koreas and related countries should work together to transform the peninsula from the "powder keg" of Northeast Asia to the region's source for peace.

The prime minister also expressed condolences and gratitude to Korean War veterans and their families, vowing to honor their sacrifices by establishing peace.