A successful Moon-Kim summit could help pave the way for the Trump-Kim meeting, which would be the first between a sitting US president and a North Korean leader.
The two Koreas may also discuss pulling some of their forces away from the heavily fortified demilitarized zone separating them, the newspaper said. "But it is unclear whether this will be achieved at this summit".
"The complete denuclearization of the Korean Peninsula is the most urgent task that lies before us and a task we must complete peacefully", the president said while attending a Buddhist service held for the success of his upcoming summit with North Korean leader Kim Jong-un.More news: Tamil Nadu: College teacher arrested for 'luring' students into prostitution
Panmunjom is also where the Korean War Armistice Agreement was signed in 1953, ending the fighting, but leaving the two Koreas technically in a state of war to this day.
Experts said it would be hard for the two sides to sign the peace treaty, given the differences of opinion on how to sign the deal.
"A North Korea-U.S. summit is scheduled to be held after the South-North Korea summit".More news: Ed Sheeran tipped for cameo in Danny Boyle film
Seoul has said the peace treaty should be signed by the two Koreas, guaranteed by the USA and China with support from Russian Federation and Japan, and later approved by the UN.
Seoul's unification minister has said the two leaders' agenda will cover three main areas: denuclearisation, establishing a permanent peace and improving inter-Korean relations. Meeting Kim Jong-UN and Donald trump is expected to take place in may or June of this year.
The recent thaw between Seoul and Pyongyang follows months of soaring tensions as the North conducted its most powerful nuclear test and launched more than 20 missiles - including two intermediate-range weapons that flew over Japan and another long-range missile that experts say puts the whole of the United States in striking distance.More news: SpaceX to recover rockets using 'giant party balloon'
Im revealed that a direct phone link between Moon and Kim will likely be set up on Friday.