Speaking to the BBC, South Korea’s President Moon Jae-in says that he remains optimistic about soon reaching a peace treaty to end the Korean War, saying that it is “only a matter of time” before everyone agrees.
The Korean War began in 1950 and an armistice was signed in 1953. No peace treaty was ever reached beyond this. North Korea has expressed interest in making such a deal as part of its ongoing diplomatic efforts, and South Korea similarly supports peace.
The main obstacle to the peace deal seems to be the US government. The Trump Administration has suggested that they don’t intend to agree to any peace deal until after total denuclearization, and they’ve also said that is expected to take several years.
A major problem with this is that North Korea’s denuclearization comes with the assumption of peace making it unnecessary to have such arms. The US resistance to peace, however, is making a hasty denuclearization appear risky for North Korean officials, as they may lose their deterrent power while still being in a state of war.