This is possible if you can somehow avert Chinese involvement, but once the PLA begins its offensive, unconditional surrender just isn't feasible.
On the one hand, the PLA was losing steam by '53, beginning to show cracks in the face of superior logistics and technology. On the other, the PLA still wasn't just going to pack up and leave. This turns the conflict into a bleeding match between the U.S. Army and the PLA, which still gives the advantage to the Chinese. The PRC had more men to throw around, and had a greater personal stake in defeating the Americans (they believed that the PRC was next on the menu if the DPRK fell). Sooner or later, the U.S. is going to have to seek terms, unless it can somehow convince the USSR and the PRC to let Korea go.