After warning one another of nuclear annihilation, US President Donald Trump and North Korean leader Kim Jong-un agreed to work out a deal that includes US security guarantees in exchange for de-nuclearisation.
The remarks were made by foreign ministry spokesman Geng Shuang at a briefing in Beijing after Foreign Minister Wang Yi praised the summit - the first between a North Korean leader and a sitting United States president - as "creating a new history".
The summit is not expected to last beyond Tuesday, with both leaders set to leave Singapore shortly after concluding their meetings.
South Korean President Moon Jae-in, whose efforts were crucial in bringing Trump and Kim together, said there would be no turning back on an agreement that held out the prospect for lasting peace on the peninsula.
Complete denuclearisation must mean the irreversible dismantlement of Pyongyang's nuclear weapons program. Trump described the destruction of the site as a "big thing".
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In response to Trump's suggestion that an agreement to formally end the Korean War might take place soon, Nam said the Moon administration would not hasten the process and that there was "no timeframe" set for the process. "We did sanctions and all of the things that you would do", Trump said.
In follow-up talks on the establishment of new relations, the US and North Korea will likely hold discussions on ending hostilities.
The joint agreement states the US and North Korea will commit to hold follow-up negotiations at the earliest possible date to carry out the agreement reached at the summit.
"It's a process and it's really moving rapidly", he added.
Trump's supporters, who relish his unconventional diplomatic style, are likely to hail the summit as a foreign policy win for the president over one of America's most bitter long-time foes even as he feuds with Washington's closest allies after leaving an economic summit in Canada in disarray over the weekend.
"We're not there yet", he said. "History is a record of people who take action and rise to a challenge".
"The U.N. Security Council resolutions that have been passed say that if North Korea respects and acts in accordance with the resolutions, then sanction measures can be adjusted, including to pause or remove the relevant sanctions", Geng told a daily news briefing.