Despite the rapprochement, worldwide sanctions against the North for its nuclear and missile programmes have kept economic cooperation between the two Koreas from taking off, while little progress has been made on the key issue of Pyongyang's denuclearisation.
In a three-sentence joint statement, the rival neighbours didn't mention an exact date for the meeting and provided no details on how to implement past agreements.
North and South Korean officials held high-level negotiations at the border truce village of Panmunjom on Monday to discuss the summit.
"For South Korea, President Moon wants to improve inter-Korean ties but that's hard without progress in US-North Korea talks", he told AFP.
South Korean Unification Minister Cho Myoung-gyon, left, shakes hands with his North Korean counterpart, Ri Son Gwon, after their meeting at the northern side of Panmunjom in the Demilitarized Zone.
South Korean President Moon Jae-in is to visit the North Korean capital Pyongyang next month to meet the North's leader, Kim Jong-un.
Ri Son Gwon, the head of the North Korean delegation, told reporters that officials agreed on a particular date, but wouldn't say when because he wanted to "keep reporters wondering", the Associated Press reported.
The two leaders, who first met in April in a highly publicized summit and then again in May for more informal talks, previously agreed to meet again sometime in the fall in Pyongyang but released no concrete details.
North and South Korea agreed on Monday (Aug 13) to hold a summit in Pyongyang in September after high-level talks in the Demilitarized Zone that divides the peninsula. Moon's spokesman, Kim Eui-keum, said it would be logistically hard to hold the summit before Sep 10, CNN reports.
The North has called for Seoul to fulfill its promise of declaring an end to the war as soon as possible, while the US has said that the North should take meaningful denuclearization steps first.
Kim and Moon met for the first time in April and agreed on steps towards nuclear disarmament.
The rapid rapprochement between the two neighbours that began this year paved the way for a landmark meeting between Kim and US President Donald Trump in Singaporein June. Meanwhile the U.S. has urged the global community to maintain tough sanctions on the isolated regime.
A US official with knowledge of the latest intelligence assessment on North Korea told Fox News in late July that the rogue regime is possibly constructing new intercontinental ballistic missiles. Pompeo has been quick to note North Korea has not tested any weapons since November, when it fired a long-range ballistic missile experts believe could be capable of hitting the United States with a nuclear warhead.
But Harry Harris, the United States ambassador to South Korea, said Monday it was too soon for such a declaration, Yonhap reported.