PYONGYANG, Jan. 1 (Xinhua) -- The top leader of the Democratic People's Republic of Korea (DPRK) Kim Jong Un said Monday that Pyongyang is willing to talk with Seoul on its possible participation in the 2018 Winter Olympics to be held in South Korea.

In his New Year speech, Kim said that 2018 is an important year for the two countries on the Korean Peninsula, as the DPRK will mark the 70th anniversary of the country's founding while South Korea will host the Winter Olympics.

Expressing sincere wishes for a successful Winter Olympics, Kim said that the DPRK will take necessary measures to prepare to participate in the event, including holding North-South talks on the DPRK's participation.

As neighbors, the two Koreas are "bound by blood", and "it is natural that we feel happy and provide assistance for the activities to be organized by our compatriots", he said.

South Korea has suggested that the two countries form a joint team to attend the event to be held in Pyeongchang County in February.

In his speech, Kim also said that the two sides should reduce the highly tense military confrontation to create a peaceful environment for reconciliation.