Korean Leaders to Hold a Banquet After Summit: Korea Update

(Bloomberg) -- The leaders of the two Koreas are set to hold their first summit since 2007 on Friday, and officials are taking a series of diplomatic steps to lay the ground for the historic meeting. The next major move is likely to be a phone call between North Korean leader Kim Jong Un and South Korean President Moon Jae-in, perhaps as early as Monday.

We follow the developments here. Time stamps are Seoul:

Kim, Moon to Break Bread After Summit Talks (5:46 p.m.)

The two leaders will meet on the morning of April 27 and hold talks at the Peace House in Panmunjom before having a banquet in the evening, Kwun Hyuk-ki, press center director for S. Korea’s presidential office, said during a briefing to reporters, without saying where the dinner would take place.

Moon Says Kim’s Decision a ‘Green Light’ (3:12 p.m.)

Moon said Monday that North Korea’s decision to suspend nuclear and long-range missile tests was a “green light” that would facilitate the success of his summit with Kim, as well as the possible meeting between Kim and U.S. President Donald Trump. Moon said North Korea was making “important decisions for complete denuclearization” for the Korean Peninsula.

Kim Accepts Nuclear Site Inspection, Herald Says (1:47 p.m.)

Kim accepted a U.S. request to inspect the regime’s nuclear test site during his recent meeting with CIA Director Mike Pompeo, South Korea’s Herald Business newspaper reported Monday, citing unidentified sources.

Leaders of Two Koreas May Speak Over Hotline (10:48 p.m.)

Moon and Kim might speak to each other over a newly installed hotline as soon as Monday, the Yonhap News Agency reported. That would be the first conversation between leaders of the two Koreas since their predecessors met in 2007.

South Korea Prepares Economic Plans, Maeil Says (9:17 a.m.)

South Korea is preparing a proposal for inter-Korean economic cooperation under the assumption of a successful North Korea-U.S. summit, the Maeil Business Newspaper reported, citing an unidentified South Korean government official.

South Korea Stops Propaganda Broadcasts (9:06 a.m.)

South Korea has stopped propaganda broadcasts near the border with North Korea, Yonhap News Agency News reported, citing the Defense Ministry.

Trump Tempers Optimism on North Korea (7:21 a.m.)

Trump isn’t willing to grant Pyongyang substantial sanctions relief in return for a freeze of its nuclear, missile tests, the Wall Street Journal reported, citing unidentified administration officials. Trump on Sunday tempered his optimism on North Korea, as U.S. lawmakers sounded skeptical about promises made by Pyongyang.

“We are a long way from conclusion on North Korea, maybe things will work out, and maybe they won’t -- only time will tell,” he said on Twitter.

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