North and South Korea sign pact

From CBC World News: Clasping each other's hands and then raising a toast on Thursday, the leaders of the two Koreas celebrated the signing of a historic reconciliation pact to end a decades-long Cold War standoff between their countries.

North Korean President Kim Jong-il and his South Korean counterpart Roh Moo-hyun agreed Thursday to replace a 1953 armistice with a new permanent peace treaty.

Under the previous ceasefire agreement, struck 54 years ago, North and South Korea were technically engaged in war until now. Thursday's pledge commits the leaders of both countries to push for a final peace settlement.

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