S Korea to hold talks with N Korea next week

South Korea have proposed high-level talks with their arch-rivals North Korea next week, over the latter's probable participation in the Pyeongchang Winter Olympics next month.

This decision was taken, following North Korean leader Kim Jong-un's re-conciliatory New Year message in a televised address to the nation yesterday. He also warned the United States saying that 'the nuclear button' is always on his 'desk.', Yonhap news agency reported.

South Korea's Unification Minister Cho Myoung-gyon on Tuesday sought to initiate the proposed talks with North Korea in a remote North Korean village called Panmunjom, located along the heavily-guarded Demilitarised Zone (DMZ).

A spokesperson of the South Korean presidential office welcomed that the North Korea has shown interest for participating in the upcoming Winter Olympics.

Seoul is open to talks "any time, any place and in any format", said the spokesperson.

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

The proposed talks comes amid the increasing tension between the two countries as South Korea seized a Hong Kong-flagged oil tanker returning after allegedly transferring oil to North Korea few days ago.