The leaders of South and North Korea sat down to begin their historic summit at around 10:15 a.m., 15 minutes ahead of schedule, at the Peace House building on the southern side of the Panmunjeom border truce village. 

In an opening statement, President Moon Jae-in said he hopes the two sides will be able give a "big gift" to people worldwide hoping for peace by engaging in broad-minded discussions to reach an agreement. 

He said he hopes the two sides will be able to have sufficient talks that they weren't able to hold for the past ten years, adding that the moment Kim crossed the Military Demarcation Line, Panmunjeom became a symbol of peace, not division.

North Korean leader Kim Jong-un said he feels that the two sides are at the starting line at a moment of writing new history in inter-Korean ties for peace and prosperity. 

He expressed hope that South and North will candidly discuss pending issues and produce good results.

This is the third summit between the two Koreas. The previous two meetings were held in 2000 and 2007 in Pyongyang.

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