He said reports that North Korea is considering a greater degree of economic openness have also fueled hopes that Dandong is well-situated to benefit from increased cross-border trade, even though North Korea has been under tough United Nations sanctions since December, following a string of nuclear weapons tests. Trump hailed the gesture as "very smart and gracious", and Pompeo said it is "good news" and "one step along the way".
U.S. Secretary of State Mike Pompeo made two visits to North Korea, at the start of April and again last week on May 9, and met with leader Kim Jong-un both times. South Koreans had serious reservations from the North Koreans and two parties never got into warm relationships.
The meeting is very significant for the peace of the region and is seen as a turning point in the relations of U.S. and North Korea.
"We can create conditions for real economic prosperity for the North Korean people that will rival that of the South", he added. Moon's willingness to accept Kim Jong-un's proposal for joint participation in the Winter Olympics triggered a series of diplomatic advancements in Seoul-Pyongyang relations.
"Through these high-level talks we will negotiate and implement measures to carry out the Panmunjom Declaration and build sustainable development for inter-Korean relations and permanent peace on the Korean peninsula", the ministry said.
Watch the Secretary of State's comments above.
All three men are ethnic Koreans who became naturalized USA citizens.
Mr. Trump has seized the opportunity afforded by the summit, an unprecedented feat for any USA leader, to project himself as the archetypal peacemaker.
North Korea has been developing its nuclear weapons and testing them at regular intervals.
Of course, maybe Trump will surprise us and has something dramatically different in the works.
Another official indicated the exact location of such secret uranium enrichment facilities is a closely guarded secret and not confirmed, but there is a high likelihood of one being located underground near the Panghyon Airfield in Kusong, a city in North Pyongan Province, or in some other location in the province.
For now, Pompeo is holding out the prospect of a Wirtschaftswunder, or economic miracle, on the scale that took place in West Germany in the 1950s. But it doesn't necessarily mean there will be a major breakthrough on tough issues like the denuclearization of the Korean peninsula. North Koreans have faced sanctions in the past by American allies and the foreign policy of North Korea seems completely bent towards Soviet Union and China. "But I also don't think that Un [Kim] is smart enough for a long con". Pakistan and Iran have also faced many sanctions by U.S. however Pakistan got succeeded in testing the nuclear gadgets.