Global attention to events on the Korean Peninsula has been striking in the past year. With an inter-Korean summit and an unprecedented US-DPRK summit, hopes of a final end to the Korean War have been renewed. Although these summits resulted in declarations which pronounced an end to the Korean War and an establishment of a peace regime, the declarations must not be mistaken as official peace treaties. Unlike a peace treaty, which is governed by international law, the two summit declarations are not governed by international law due to their lack of legality. Therefore, a clear distinction must be drawn between the declarations and a peace treaty. This paper aims to determine the legal status of the declarations and explain how they are merely non-binding political declarations. The paper then identifies and explores some of the legal implications of a Korean peace treaty.