South Korea could meet many demands if North Korea gives up nuclear weapons

Moon Chung-in, South Korea’s special adviser for foreign affairs and national security, said Seoul would ask North Korea to freeze its missile program, shut down its nuclear facilities and allow nuclear inspections. In return, Seoul would make concessions on a number of issues, according to SCMP.

"If Pyongyang's commitment to denuclearization is confirmed, incentives will be provided in various forms, in the military, political and diplomatic aspects to North Korea," Moon said, stressing that the US - South Korea's main military ally - and some other countries could also provide incentives.

Concessions could include long-standing North Korean demands such as easing international sanctions, removing North Korea from a list of state sponsors of terrorism and South Korea halting installation of a US missile shield system.

Moon’s adviser expects a breakthrough at the summit between President Moon Jae-in and North Korean leader Kim Jong-un on April 27. However, it is unlikely that the agreement will include the withdrawal of US troops from South Korea.

President Moon Jae-in is likely to make a formal declaration of peace with North Korea at the United Nations General Assembly in September if the two leaders can reach an agreement. The Korean War ended in 1953 with an armistice, not a formal peace treaty.

Hopes for an end to the nuclear crisis on the Korean Peninsula have increased in recent months after the leaders of the two Koreas agreed to dialogue. North Korean leader Kim Jong-un is also expected to meet US President Trump in late May or early June. In preparation for this historic meeting, the director of the US Central Intelligence Agency (CIA) traveled to North Korea and met with Kim Jong-un last week.