Why has this happened so suddenly?
Days later, Kim personally received a high-level delegation from the South for dinner, and now a sensation: there could be a summit between Kim and Moon as early as in April, followed a month later by a meeting between Kim and Trump.
Moon was elected president on a promise to improve relations with the North. Now Kim has given him a chance to fulfil that pledge.
Q: What is the US's new policy?
U.S. President Donald Trump has agreed to meet Kim Jong Un, top leader of the Democratic People's Republic of Korea (DPRK) by May at the invitation of Kim, said a South Korean envoy during a trip to Washington on Thursday.
US officials said Pyongyang had scrapped secretly planned talks at the last minute after Pence denounced abuses from North Korea's "murderous regime".
Here's what we know - and don't know.
Hours before the news broke, Tillerson had said direct talks between the US and North Korea were still in the distant future. The regime in Pyongyang is morally repugnant and superficially often bizarre, but its fear of becoming a US military target is not without grounds.
Some GOP members attributed the apparent diplomatic shift to the Trump administration's "maximum pressure" campaign, which has included several rounds of biting sanctions.
Trump hailed "great progress" in the push to persuade Pyongyang to end its nuclear weapons programme. In Europe, the Stoxx 600 Index was broadly unchanged at 5:45 a.m.as traders try to digest the U.S. tariff news and yesterday's ECB meeting, while waiting for payrolls data.
Finally, in 2008, six-party talks were held in Beijing to address the nuclear issue, but broke down over North Korea's refusal to allow international inspectors unfettered access to suspected nuclear sites.
The Trump presidency typically dominates a news cycle.
All experts agreed there is no way North Korea will give up its nuclear weapons.
That doesn't mean the negotiating table is a bad place for the U.S.to be.
Bill Richardson, a former US ambassador to the United Nations who has negotiated with and traveled to the North, said it's a "huge gamble" but "worth taking".
"If this is corroborated this could create necessary conditions towards a negotiated solution".
North Korea has apparently said it intends to waive further missile tests during the dialogue phase.
Q: Is unpredictability a good strategy, or a dangerous one? JPMorgan Chase rose $2.03, or 1.8 percent, to $116.77 and Capital One Financial gained $1.50, or 1.5 percent, to $99.65.
"We will continue to work closely with the US, South Korea and the international community to ensure that pressure on North Korea continues and sanctions are strictly enforced until Kim Jong Un matches his words with concrete actions".
"Plans to hold a summit are a plus, though it will take time for it to lead to an actual resolution". For once, the Koreans have taken the matters into their own hands.