The two rival leaders, North's Kim Jong-un and South's Moon Jae-in, smilingly shook hands and sat down for the much-anticipated meeting .
As per reports, at Kim's invitation the two men briefly crossed hand-in-hand into the North before walking to the Peace House building.
Kim can be seen with his sister and close adviser Kim Yo Jong and the North's head of inter-Korean relations.
Kim reportedly told Moon Jae In that he would be happy to visit the presidential Blue House "anytime" if invited, and said "will ensure I won't interrupt your morning sleep anymore with missile launches".
For the first time in the history, the two leaders who were seen as rivals, Kim Jong and Moon Jae-in have met in a face to face interaction. Kim has become the first North Korean leader to set foot in the South since the Korean War ended 65 years ago.
The meeting is third of its kind since the end of the 1950-53 Korean War.
It is the second time Kim Jong -un has crossed the borders of North Korea. Earlier, he went to China to meet President Xi Jinping.
The meeting is taking place on the southern side of the truce village of Panmunjom.
It is intended to pave the way for a much-anticipated forth-coming meeting between the North's leader Kim Jong-un and US President Donald Trump. It is pertinent to note that US is building a pressure on North Korea for denuclearisation.
The nuclear weapons possessed by North Korea are supposedly going to be the main agenda of the inter-Korean summit.
It was in January during winter Olympics in South Korea when the two countries marched under one flag. The move was hailed as the first step towards normalization of ties between the countries. It was then at the initiation of the South Korean president Moon Jae-in that Kim agreed to hold the historic bilateral summit in April.
Watch ABP News' direct coverage of the summit: