As spring started in 1951, the US and UN forces had regrouped and stabilized near the 38th parallel. There were flare-ups and small, bloody battles into 1953, but neither side really gained an edge. The war was at a stalemate. While this was happening the diplomats were trying to reach an acceptable peace agreement.
In the election of 1952, this stalemate was the key issue. Former Supreme Allied Commander Dwight Eisenhower wins on the promise of ending the war. Once elected, Eisenhower travelled to Korea, spoke with the troops and studied the conflict. It was his opinion that only a strong move would break the stalemate. He hints at the use of nuclear weapons to end the struggle. At the same time, Stalin died, meaning that one of the key figures in the struggle was no longer around to make decisions. The communists agree to settle and after more than 3 years, a cease-fire is signed. It is still in effect today. A buffer zone was created at the 38th parallel and it separates North and South Korea. It is the most heavily militarized border in the world, and the area in-between the two countries is supposed to be gorgeous because it is essentially untouched.
There was no victory in the Korean War. North Korea remains a communist country allied with China and South Korea is noncommunist allied with the US.