South Korean President Lee Jae Myung gives a speech during a meeting of the Peaceful Unification Advisory Council in a hotel in Incheon, Wednesday. Joint Press Corps

South Korean President Lee Jae Myung said Wednesday government will pursue sustained efforts to engage North Korea and replace the Korean War armistice with a peace regime.

Lee made the remarks in a meeting of the Peaceful Unification Advisory Council, a presidential advisory body on unification of the two Koreas.

"At least to open a 'Korea premium' era for the future Korean Peninsula that is drawing global attention, we must replace the armistice with a peace regime," Lee said.

However difficult it may be, the government should continue to "knock on North Korea's closed door," the president said.