Koreas Make Truce - Oh, you didn't know either?

So, how is it that news - like North and South Korea drawing up a truce, hardly gets mentioned on the world scene. In light of the quick burial of this recent news, here are some details for those of you who may be interested.

The accord, which aims to replace an armistice that on 27 July 1953 ended the Korean War – with a death toll of over 2.5-million (including 150,000 Chinese and 50,000 US soldiers) and the division of the peninsula along the 38th parallel – was preceded yesterday by the announcement that Pyongyang is ready to dismantle facilities at its main Yongbyon nuclear reactor complex by December 31.

After the signing of the agreement, a statement was released announcing a ‘four-way summit’ with the US and China.

“The South and North shared the view that they should end the current armistice regime and establish a permanent peace regime”, reads a passage of the eight-point accord signed by the two Korean leaders, who agreed to establish a "special area for peace and cooperation in West Sea" covering the Haeju island area, near the inter-Korean border.

According to Associated Press, here are some parts of the agreement they drew up.

ECONOMICS: A new "special economic zone" will go up on North Korea's west coast, where North Korean factories will manufacture goods for South Korean companies. Development of an existing joint industrial park in the North Korean border city of Kaesong will be speeded up and get regular cargo rail service. A joint fishing zone will be demarcated on their disputed sea frontier, where fishermen frequently run afoul of naval patrols.

FAMILIES: More reunions of relatives separated by the border will be allowed. Since the first inter-Korean summit in June 2000, some 18,000 Koreans from separated families have met face-to-face or over video.

TOURISM: South Korean tourists will be allowed to fly from Seoul to Mount Paektu, North Korea's tallest peak and a landmark hallowed by Koreans on both sides of the border.

SPORTS: The two sides will send a joint cheerleading squad to next year's Beijing Olympics.

More details here