The DMZ is a border barrier that divides the Korean Peninsula roughly in half. It was created by agreement between North Korea, China and the United Nations in 1953 as a buffer zone to cease hostilities after the Korean War.
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Korean War: A war fought between North Korea (supported by China and Russia) and South Korea (supported by UN forces predominantly US) from 1950-1953.
Armistice Agreement: An agreement signed in 1953 to end hostilities of the Korean War. However, it's not a peace treaty so technically both Koreas are still at war.
Panmunjom: A village located in the DMZ where negotiations took place during and after the Korean War. It's also known for its "Peace House" where inter-Korean talks are held.