Image source, AFP

While there's been praise for the fact that the talks are getting under way, there are doubts as to how effective they will be. Japan has been subject of repeated threats by Pyongyang and is well within range its missiles. Tokyo has urged both Seoul and Washington not to stray from keeping a firm line against the North and not to ease sanctions without verifiable concessions from Pyongyang.

One year ago, few would have expected this meeting to ever take place. Pyongyang's relations with Seoul and Washington were on a downward slide and there was even fear of military escalation.

But in his New Year speech, Kim Jong-un took everyone by surprise announcing his country might take part in the upcoming Winter Olympics in South Korea.

The talks that followed led to the plans for this inter-Korean summit and for talks with President Trump in the coming months.

This really is an extraordinary sight. North and South Korea have technically been at war for decades.

But will this lead to lasting change on the Korean peninsula?

The BBC's Laura Bicker is at a school near the meeting.

The two leaders have now moved away from the public glare for private conversations. South Korea issued a full briefing on Thursday on how today was going to play out. There's the big welcome, then some talks. Then there's a break for lunch - each side will eat separately. They may or may not hold a joint press conference later in the day - that depends on what they manage to agree in what is being called the Panmunjom Declaration.

Image source, reut

We've said it before - not all too much is known about what the two men will discuss today. The North's abysmal human rights record will definitely not top the agenda though. While there are strong calls to address the issue, Mr Moon will likely not want to jeopardise the talks by pushing too hard on Pyongyang's brutal history of suppression.

We didn't know, a while back, how public this meeting would be. But it could not be more public. The Peace House is packed with cameras. Our colleagues say the sound of cameras is incredible. Commentators waiting in the press centre say they are holding their breath. It's all smiles now, but will it bring lasting change?

Kim is now inside the Peace House signing the guest book. Moon is politely not watching what he's writing but standing, rather stiffly, alongside.

Mr Moon just shook hands with Mr Kim's sister, Kim Yo-jong. She's been hugely elevated in the North Korean leadership in recent months. She represented North Korea when they took part in the Winter Olympics in South Korea earlier this year. She has a certain celebrity status in the South now, and, says our correspondent Rupert Wingfield-Hayes, is essentially acting as the head of Mr Kim's delegation today.

The leaders have been met by an honour guard - in traditional costume - on the South Korea side. They've posed with children, saluted the anthems and are walking along the red carpet to inspect troops.

The BBC's Rupert Wingfield-Hayes at the border says this is Mr Kim being greeted as a head of state. This sort of recognition is something Mr Kim has long wanted.

What a moment. Kim stepped onto South Korea soil then - and we didn't expect this bit - Moon briefly stepped over the border back into North Korea with him. Handshakes, smiles and cheers all round.

A seismic moment in the history of the Korea peninsula.

A historic moment at the border.

President Moon's team is in place and Mr Kim has arrived at the DMZ.

There have been some lovely shots on live TV just now of North Korean staff peeping through the curtains of the Peace House as the South Koreans arrive. We'll get those here as soon as we can.

The South Korean delegation is now on its way the military demarcation line - literally a line drawn onthe ground which marks the point where the South becomes the North.

OK, a little bit of light relief.