01/17/2018 09:30 EST | Updated 01/17/2018 09:30 EST

North And South Korea To Form Their 1st Joint Olympic Team

Athletes from the two Koreas will march together under a "unification flag" during the opening ceremony.

The Associated Press
In this April 6, 2017 file photo, South, wearing white uniforms, and North Korean players shake hands after their IIHF Ice Hockey Women's World Championship Division II Group A game in Gangneung, South Korea.

SEOUL, Korea, Republic Of — South Korea says the rival Koreas have agreed to form their first joint Olympic team and have their athletes march together during the opening ceremony of next month's Winter Olympics in the South.

Seoul's Unification Ministry says the Koreas reached the agreement during talks Wednesday at the border village of Panmunjom.

It says athletes from the two Koreas will march together under a "unification flag" depicting their peninsula during the opening ceremony and will field a single women's ice hockey team.

The measures require approval by the International Olympic Committee. The South Korean ministry says the two Koreas will consult with the IOC this weekend.