ⓒYONHAP News

South and North Korea will field unified teams in four sports at the 2020 Summer Olympics in Tokyo.

The two Koreas will compete as one team in women's basketball, women's field hockey, rowing and judo at the Tokyo Games.

Sports Minister Do Jong-hwan and his North Korean counterpart Kim Il-guk held talks with International Olympic Committee (IOC) President Thomas Bach at the IOC headquarters in Lausanne, Switzerland on Friday.

After reaching the decision, Bach hoped for more sports unity between the two Koreas.

"It is a great day for the Olympic movement. We are looking forward now to the further consultation with two Koreas."

This will be only the second time that the two Koreas have fielded single teams at the Olympics after the joint women's ice hockey team at last year's PyeongChang Winter Games.

During the meeting, the two Korea's also formally expressed their intent to host the 2032 Summer Olympics.

Seoul and Pyongyang's sports ministers are hopeful.

Chairman Bach said it was a historic proposal, and that the IOC will help as much as it can... "

"I felt that sport has a certain great power and it can contribute to world peace and unity... "

The two countries have been pursuing jointly hosting the Summer Olympics since agreeing on it during last September's inter-Korean summit.

Earlier this week, the Korea Sports and Olympic Committee picked Seoul as the candidate city for the joint bid, while the North picked its own capital Pyongyang.

Along with the two Koreas, China, Germany and Australia are competing to host the 2032 Summer Games.

A host is usually announced seven years before the event.