South Korea and the US would begin formal talks on the deployment of a US missile defense system on the Korean peninsula.

There has been speculation for years about the deployment of the Terminal High Altitude Area Defense system --- one of the most advanced in the world --- to South Korea.

The US insists that the system is to counter the growing threat from the DPRK, while China and Russia argue that it would undermine stability and could trigger an arms race.

Pyongyang says any such move would be a Cold War tactic to "contain" China and Russia. But South Korea stressed the system, if deployed, would "operate only regarding the DPRK."