The new document replaced the previous Treaty of Friendship and Good-Neighborhood Cooperation signed by the states' leaders in 2000.
According to the text of the new treaty, from the date of its entry into effect at the time of the exchange of ratifications, the old treaty terminates.
"This Agreement is valid for an indefinite period. If one of the parties intends to terminate this agreement, it must notify the other party in writing. The agreement is terminated one year from the date of receipt of written notice by the other party," the text read, as quoted by the KCNA.
Russian President Vladimir Putin arrived in North Korea's capital, Pyongyang, on Wednesday morning. Later that day, he had extensive talks with the leader of the Democratic People's Republic of Korea (DPRK), Kim Jong Un, on cooperation between the two countries, global security, Western policies, and much more.