Koreas to march under unified flag at Winter Olympics

North and South Korea have agreed to field a joint women's ice hockey team and march together under a unified Korea flag at the opening ceremony of the Pyeongchang Winter Olympics.

The Yonhap news agency on Wednesday reported that the agreement has been reached as the two Korean delegations discussed North Korea's participation in the next month's Winter Games.

The two sides had met at the border village of Panmunjom, located along the heavily guarded Demilitarised Zone (DMZ) for working-level talks.

"The North will send a 230-member cheering squad and a 30-member taekwondo demonstration team to the South. It will send a total of 550-member delegation to the Winter Olympics", a joint statement, issued after the talks, read.

The two Koreas have also agreed to hold a joint cultural event at Mount Kumgang on the North Korean east coast before the Winter Games. Also, a joint training will be conducted among the ski athletes at Masikryong Ski Resort in North Korea.

The Winter Olympics is scheduled to take place at South Korea's Pyeongchang from February 9-25.

The development between the two countries has brought some ease into their strained relations.

The two sides have also agreed to hold military talks on solving border tensions.

After the working-level talks, another meeting is scheduled to take place between the two countries on January 20.