The Korean War (1950-1953) and its Armistice Agreement left the two Koreas permanently separated by the DMZ, roughly approximate to the 38th parallel and through which runs the Military Demarcation Line. They remain technically at war today. North Korea's communist government has presided over a state-controlled economy historically dependent upon massive aid from the USSR, Russia and mainland China in order to survive. Meanwhile, Korea has developed into one of the world's leading economies, employing free enterprise economic policies as well as finally fostering a democratic government.
Since the 1990s, the two Koreas have held two symbolic summit meetings in 2000 and 2007, and have slightly increased economic cooperation.
Today, only a day left until the third big Inter-Korean Summit, the Korean people share their hopes, dreams and expectations for the future of Korea. Here, you can listen to a North Korean defector and a young South Korean executive in the next video.
Video edit: Alexandra Taseva