South Korea said Sunday it is willing to discuss the issue of its sanctions on North Korea if Pyongyang agrees to resume long-stalled inter-Korean talks, Yonhap reported on Sunday.

Seoul slapped a set of sanctions on North Korea on May 24, 2010, some two months after the North torpedoed the South Korean Navy corvette Cheonan, killing 46 sailors. The so-called May 24th Measure bans all inter-Korean exchanges, except for an inter-Korean industrial complex and humanitarian aid.

Pyongyang has asked Seoul to lift the sanctions before any inter-Korean dialogue, but the South maintains that the North should first take "responsible action" for the sinking of the Cheonan.

"South Korea is open to discussing various issues including the sanctions if the North responds to our proposal for inter-Korean talks," the Ministry of Unification said in a statement.