WASHINGTON : The US government is studying the possibility of signing a formal peace treaty with North Korea after more than half a century of tense standoff, The Wall Street Journal reported Monday.

Citing unnamed senior officials, the newspaper said the administration of President George W. Bush was exploring how to implement a peace accord to officially end the 1950-53 Korean War.

They say the United States hopes to start discussions with North Korea by the end of the year, the report said.

In February, North Korea pledged to begin dismantling its nuclear-weapons programme in exchange for economic aid and eventually diplomatic relations with the United States and its allies.

Now, some Bush administration officials hope those so-called six-party talks can evolve into a permanent forum for defusing security threats in Northeast Asia, the paper said.

US and Asian diplomats foresee a forum along the lines of the Association of Southeast Asian Nations or the Organization for Security and Cooperation in Europe, The Journal said.

Bush administration officials stress that pursuing broader regional security aims in Northeast Asia would be contingent upon North Korean leader Kim Jong Il permanently dismantling his nuclear-arms programs, according to the report.

If the disarmament process proceeds, the administration hopes to start discussing a formal peace treaty with Pyongyang by year's end, said The Journal, citing Assistant Secretary of State Christopher Hill.

A working group headed by Russia, meanwhile, has begun to look into longer-term security arrangements in Northeast Asia, the report said. - AFP/ch