Peace on Korean Peninsula is unlikely to happen, many complications exist.

The meeting between Korean leaders on 26th April was seen as the biggest turn around on the peninsula, and the initiative could take the region on the path of peace and security and could help the peninsula for complete denuclearization. But the fact of the matter is that the peace is unlikely to prevail on peninsula, United States and China would have serious insecurity out of the possible peace deal between two neighbors.
The credit goes to Trump administration which has brought North Korea on negotiation table, the aggressive military buildup and strong diplomacy have helped them to agree for peace talk, and this must be consider as decisive victory for Donald Trump what other US presidents failed to do. United States is the security provider of South Korea, and it has been stationing thousands of military and sophisticated military equipment including THAAD missile defense system to deter the aggression of North Korea. US took the crisis like their own war, it was threatened by North Korea to nuke its territory, the nuke alert was activated for Hawaii, and in all this, Donald trump fought like very personal and psychological war with North Korean leader on social media.
North Koreans aspiration to achieve nuclear technology is the serious breach of security in the region, it is threatening South Korea, Japan, China, United States and to some extent Russia, and there was a risk that the nuclear mishandling or any accident could pollute the environment with radioactive emissions. A war in Korean Peninsula could trigger nuclear head on between north and south led by US that no regional power could afford let it be China or Russia, the war could destroy the North Korea to nuclear ashes as the US administration has been threatening, and it could also destroy South Korea as the major infrastructures are on target of North Korean military.
China and the United States consider themselves as the stakeholders in Korean crisis, China was fighting in 1953 Korean War to defend the north communist regime and the United States and western allies were fighting on the South side to defend the democratic republic of South Korea. The most important point on the table while negotiation would be reunification of North and South, if it happens under the US mentorship, China would be automatically threatened, it might give stake to the US be present on the peninsula for indefinite period of time, democracy will be more strengthened on the Chinese border, and  these could not afford by China.
There could be another way around which could concern the United States. The peace in Korean peninsula could force the United States to leave the region and to vacate the military bases in South Korea from where it keeps close eye to the activity of China and Russia, the strategist fears that China could use its influence of North region where it has heavily invested in infrastructure projects, China is biggest importer of South Korean goods and services, they are culturally more inter-linked, if they unite for peace then the call for US withdrawal might come from within the Korean society as it was seen during THAAD deployment on South Korean soil,  all these factors are pointing toward strategic loses for United States in case peace deal would be signed, which unlikely to be afforded by US administration in long run.

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