Economy Korean peace deal may not be as simple as it seems Updated : April 19, 2018 09:20 AM IST South Korea and a U.S.-led U.N. force are technically still at war with North Korea. Some observers have warned that North Korea could see a peace deal as a way to undermine the South's alliance with the US. North Korea has previously maintained that it would only negotiate a peace treaty with the US. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.