North and South Korea have both reached an agreement on Wednesday to bid for the 2032 Olympic Games in order to co-host the quadrennial event.
The decision was made following a summit between the North Korean leader Kim Jong-Un and his South Korean counterpart Moon Jae-in.
The bid is part of a larger move toward peace on the Korean Peninsula, with both president agreeing on the first steps toward denuclearization and peace.
South Korea hosted the 2018 Winter Games in Pyeongchang while the 1988 competition was hosted in South Korea capital city, Seoul.
The two Koreans have agreed to “participate jointly” at international competitions including the 2020 Olympic Games in Tokyo.
However, Seoul’s Sports Minister, Do Jong-hwan said the idea to co-host the Games would build on the success of this year’s Winter Olympics in Pyeongchang, where North Korea’s participation helped ease tensions on the peninsula.
Brisbane, Australia, plans to bid for the 2032 Games and Germany has announced plans for a multi-city bid.
Tokyo will host the 2020 Games, Paris in 2024 and Los Angeles in 2028
while Beijing is the site of the 2022 Winter Olympics.