5 Things to Know About the New Agreement Between North and South Korea

4. Economic Cooperation

The two leaders agreed to implement economic cooperation projects that had been previously negotiated upon on Oct. 4, 2007, "to promote balanced economic growth and co-prosperity of the nation."

One of the first steps toward economic cooperation was to adopt practical steps toward the connection and modernization of the railways and roads on the eastern transportation corridor as well as between Seoul and Sinuiju for their utilization.