"South and North Korea agreed as follows: 1. The North will send a performing squad of 140 Samjiyon Orchestra members to the South. 2. The North's performing squad will hold performances in Gangneung and Seoul," the statement said.
According to the statement, the two sides will jointly decide on the venues, stage conditions and the installation of necessary equipment for the performance of North Korean entertainers.
"Practical matters including venue, stage conditions, and equipment and installation of equipment necessary for the performance of the North's performing squad will be solved amicably through consultation between the South and the North," the statement read further.
Earlier on Monday, the working-level talks between the delegations of Seoul and Pyongyang on the details of the North Korean performing squad's visit to Pyeongchang were held in the de-militarized zone's village of Panmunjom.
On Tuesday, Pyongyang and Seoul reached an agreement on the participation of North Korean athletes in the upcoming Olympics in South Korea. The two parties are now to decide on the list of North Korean athletes and officials, who will take part in the Olympics, during the meeting of the International Olympic Committee (IOC) in Switzerland's city of Lausanne scheduled for Saturday. The issues relating to the official protocol of the Olympics should also been addressed during the IOC consultations.