When civil war broke out in the 1950s, Australia sent around 18,000 troops to fight along the US-supported South Korea in one of the key proxy conflicts of the Cold War.
Australia lost 340 men to the war which had an estimated toll of one million.
The anniversary of the armistice agreement comes as both sides still experience hostile relations.
North Korea has ramped up tensions between the two states with recent missile tests and launches.
The North will also be commemorating the anniversary.
Thousands of North Korean veterans have gathered in Pyongyang to celebrate the anniversary of their "victory" over the South and its allies.
“I'm looking forward to the victory parade”, said a North Korean veteran, “I can feel the energy of being a young man again.”
Watch: The full report above.
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