(CNN) President Donald Trump announced that his second summit with North Korean leader Kim Jong Un will take place in Hanoi, Vietnam, February 27 and 28.

"I look forward to seeing Chairman Kim & advancing the cause of peace!" he tweeted.

He later added, "North Korea, under the leadership of Kim Jong Un, will become a great Economic Powerhouse. He may surprise some but he won't surprise me, because I have gotten to know him & fully understand how capable he is. North Korea will become a different kind of Rocket - an Economic one!"

Two Vietnamese cities -- Hanoi and Da Nang -- emerged as top contenders for the summit's location, according to a source familiar with the summit's planning.

The choice of venue could be seen as a small concession by the US -- CNN reported that North Korea favored Hanoi because it has an embassy there, while the US preferred Da Nang because an Asian-Pacific Economic Cooperation summit was held there recently, which means the US has already conducted a full check, per a source familiar with the negotiations. CNN reported last week the choice would likely be Da Nang, but the plan was still being finalized.

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