In an evening tweet, Trump praised a possible future agreement with the communist North as "very good" for the worldwide community as a whole, after the U.S. leader stunned the world by accepting an invitation to meet Kim Jong Un before the end of May.
"North Korea's desire to meet to discuss denuclearisation - while suspending all ballistic missile and nuclear testing - is evidence that President Trump's strategy to isolate the Kim regime is working", Pence said in a statement.
It is impossible to overestimate the suspicion that exists between North Korea and the United States, 70 years after the end of the Korean War, which never officially ended with no formal peace agreement reached.
North Korea's Kim Jong Un and President Donald Trump had engaged in an increasingly bellicose exchange of insults over the North's nuclear and missile programmes.
"(It could mean) a withdrawal of USA troops from South Korea and withdrawing the United States nuclear umbrella over South Korea and Japan", Kim said.
South Korea's Kospi index reached its highest point since October, and Japan's Topix Index increased 1.8 percent, Bloomberg reported Friday.
The president later told his 48 million followers on Twitter that "great progress" was being made and that a meeting was "being planned".
Previous North Korea leaders sought face-to-face meetings with sitting American presidents but they refused, partly over fears they could serve as propaganda for a regime accused of shocking human rights abuses against its own people.
Trump has previously tried to distance himself from both Rodman's "basketball diplomacy" and North Korea. "Hopefully, you will give me credit".
Chung had recently returned from Pyongyang, where he met Kim personally.
Russian Foreign Minister Sergey Lavrov is also welcoming the announcement that North Korea's leader Kim Jong Un and President Donald Trump have agreed to meet.
Donald Trump and Kim Jong-un's historic meeting could be held in… Mongolia as nation offers to host peace summit
Chung said Trump had agreed to meet by May in response to Kim's invitation. "We know that it has put a tremendous amount of pressure on North Korea".
He said it was the change in stance from North Korea that surprised him, not Mr. Trump's acceptance of the invite. "You're on the way to a historical meeting no US president has ever done". Trump has called Kim "Little Rocket Man" and a "madman".
Kim Jong-un's Olympic détente-a remarkable (if largely symbolic) climbdown-caught most everyone by surprise.
After Kim repeated threats against the U.S.in a New Year's address and mentioned the "nuclear button" on his office desk, Trump responded by tweeting that he has a nuclear button, too, "but it is a much bigger & more powerful one than his, and my Button works!"
China, North Korea's main financial backer. "While we must take any credible opportunity to talk with Pyongyang about denuclearization, we must also never forget that the DPRK continues to represent a grave threat to the United States, our allies, and global peace and stability".
FILE - In this October 23, 2000, file photo, North Korean Leader Kim Jong Il, left, shakes hands with U.S. Secretary of State Madeleine Albright at the Pae Kha Hawon Guest House in Pyongyang.
In February, Vice President Mike Pence said that the U.S.is willing to talk with the North-but that the maximum pressure campaign would not let up. The drills are expected to resume next month and had widely been seen as an obstacle to talks. -South Korea military exercises in April, and a North Korean commitment to stop nuclear and missile testing.
Chinese sanctions are a contributing factor to the change in Pyongyang's tone and its recent rapprochement with South Korea, and now President Trump.
Miller, now a vice president at the Wilson Center in Washington, said the nature of "combustible personas" like Trump and Kim makes any meeting risky and unpredictable. "The president has accepted that invitation", the official said.
She told CNN that Kim was "playing to the President's ego and the president?s weaknesses by flattering him".