Leaders from North and South Korea are to hold their second-ever summit, officials have announced.
President Roh Moo-hyun will meet North Korea's Kim Jong-il in the North's capital, Pyongyang, from 28-30 August.
The summit comes amid an improvement in North Korea's ties with the outside world, and has been warmly welcomed by the international community.
But South Korea's main opposition party rejected the move as an election stunt ahead of December's presidential polls.
The new summit comes seven years after the first one, when Mr Kim met then-South Korean President Kim Dae-jung.
That meeting ushered in improved ties and reconciliation between the two sides, who remain technically at war.
'Weighty significance'
The new summit was finally agreed after senior South Korean intelligence personnel made two trips to the North, officials said.
The two Koreas have agreed to formalise an agenda at preparatory meetings in the border city of Kaesong, where they jointly run an industrial park.
THE TWO KOREAS
South Korea's presidential office said that the summit would "contribute to substantially opening the era of peace and prosperity between the two Koreas".
North Korean state news agency KCNA said it would be "of weighty significance in opening a new phase of peace on the Korean Peninsula".
Analysts say the summit is another sign of Mr Kim's increasing willingness to co-operate with the international community.
Last month, North Korea finally shut down its main Yongbyon reactor as part of an international aid-for-disarmament deal aimed at ending its nuclear programme.
The motivation for Mr Roh could well be the fact that it is likely to be his last chance to influence his nation's political future.
The increasingly unpopular South Korean president is approaching the end of his term, and both Mr Roh and Mr Kim are well aware that the opposition Grand National Party (GNP) - which advocates a tougher line towards North Korea - looks likely to win presidential elections on 19 December.
The GNP accused Mr Roh of using the summit to give his preferred candidate a boost in the polls.
"We oppose the inter-Korean summit, which is taking place at an inappropriate time and venue and through opaque procedures," the party said in a statement.
Worldwide welcome
The international community hailed the news of the summit.
Profile: Roh Moo-hyun
"We... hope that this meeting will help promote peace and security on the Korean Peninsula," US State Department spokesperson Joanne Moore said.
"China expects positive results can be achieved in the second South-North summit," Chinese Foreign Ministry spokesman Liu Jianchao said in statement.
The two Koreas have not signed a formal peace agreement since the end of the 1950-53 Korean War.
But after the landmark summit in 2000, ties between the two Koreas warmed. Joint economic projects began and reunion meetings for families divided by the partitioning of the Korean Peninsula in 1953 were initiated.
Kim Dae-jung won a Nobel Peace Prize for his efforts to engage with Pyongyang, but he was forced to apologise when it emerged that large amounts of cash were sent to North Korea ahead of the talks.
The former president welcomed the news of a second summit as "a great step forward for peace".
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