The ruling Democratic Party said Tuesday that it will push to set up a parliamentary special committee on inter-Korean ties to support economic cooperation between the two Koreas.

Recent rapprochement on the Korean Peninsula is raising the prospect that the Koreas will promote economic cooperation if there is progress on the North's denuclearization.

"The core of inter-Korean economic cooperation is to establish transportation infrastructure," Hong Young-pyo, the party's floor leader, told a forum.

"There should at least be tangible achievements in such areas as re-linking railways and roads and linking natural gas pipelines under (the five-year) term of President Moon Jae-in," he said.

President Moon has unveiled an initiative aimed at developing broad inter-Korean economic belts, called the "New Economic Map."

In a related move, Seoul is exploring ways to boost economic cooperation with Russia and other Northeast Asian nations under Moon's so-called New Northern Policy.

"To make inter-Korean economic cooperation gain traction, it is important to develop transportation in North Korea and link the transportation means of the two Koreas," Transportation Minister Kim Hyun-mee said.

South Korea has recently joined an inter-governmental organization on rail transportation between Europe and Asia as North Korea did not oppose the South's full membership amid thaws in bilateral ties.

The move could boost South Korea's ambitious project to link the Trans-Siberian Railway with an inter-Korean rail line.

Inter-Korean ties have markedly improved following summits between President Moon and North Korean leader Kim Jong-un held in April and May.

The two Koreas agreed to explore ways to promote economic cooperation, but the full-fledged start of inter-Korean economic projects will be possible only after North Korea gives up its nuclear and missile programs.(Yonhap)