Discussions on inter-Korean peace and unification under the armistice regime have followed one of two trajectories. Some believe that the sustenance of the armistice is equal to peace, drawing a direct connection between the rmistice regime and unification. Other scholars include the establishment of a peace system as a precursor to unification. Additionally, there are two types of unification methodologies: unification by absorption, in which unification occurs through one side’s absorption of the other, and consensus-based unification, which requires the equal participation of the South and the North in the unification process. A combination of a peace system and consensus-based unification is perhaps the most ideal method because a state of peace can be pursued by peaceful means. However, its realization is unlikely because establishing peace on the Korean peninsula is a complex process involving multiple actors including South Korea, North Korea, the United States, and China. This paper explores the conditions for a sustainable peace system on the Korean peninsula based on an exploration of existing debates on the establishment of peace systems.