When North Korea shut down the industrial park it jointly maintained with South Korea in April, it ratcheted tensions to a new high.
The Kaesong Industrial Complex, shuttered earlier this year, is one of the only areas of cooperation between rivals North and South Korea.
Relations between the North and the South have been more strained than usual lately, but an agreement to discuss reopening a joint factory venture could shift the mood in the region.
As President Obama meets today with South Korea's President Park Geun-hye, how closely they agree on policy toward North Korea and whether they establish a good working relationship will be key to dealing with an increasingly dangerous new leadership in Pyongyang.
Many Korea watchers speculated that once joint military drills ended, so would increased tensions with North Korea. But at least one analyst says this might be the moment the North lashes out again.