North and South Korea have said they have made a “leap forward” towards peace after the signing of an agreement on a number of issues.

South Korea’s President Moon Jae-in and North Korean leader Kim Jong-un shook hands in a public signing ceremony during the three-day summit in Pyongyang.

"The world is going to see how this divided nation is going to bring about a new future on its own," Mr Kim said.

The move comes just a week after the White House reported receiving a letter from Mr Kim about a possible second summit with Donald Trump as well.

Just a few days ago, US Ambassador to the United Nations Nikki Haley however, stated North Korea was skirting around UN Security Council sanctions.

She also blamed Russia for helping them in light of what she said was Mr Kim’s continued development and maintenance of North Korea’s nuclear weapons programme.

The White House has not directly addressed Ms Haley’s remarks but Mr Trump said regarding the recent Korean agreement that it was “very good news”.

“We're making tremendous progress with respect to North Korea. Prior to becoming president, it looked like we were going to war with North Korea, and now we have a lot of progress....But very importantly, no missile testing, no nuclear testing,” he noted before boarding the Marine One helicopter in front of the White House.

US Amabssador to UN Nikki Haley accuses Russia of cheating and helping North Korea evade United Nations sanctions

The president remarked tensions between Washington and Pyongyang were now “calm,” adding: So we'll see what happens.”

Here is a list of what Mr Kim and Mr Moon officially agreed to:

Mr Kim wants a “land of peace”

After signing the agreement the North Korean leader said he wanted a “land of peace without nuclear weapons and nuclear threats,” however he has made the claim of complete denuclearisation before.

Mr Trump came under widespread criticism after his counterpart made the same statement during the 12 June Singapore summit, but no concrete requirements were nailed down by the US.

Experts have said the lack of tangible measures being written down is what may have led to North Korea’s continued development and maintenance of weapons systems and not taking the US as a serious player in peninsular peace.

2032 Olympics bid

After the two Koreas marched jointly in the Pyeongchang Winter Olympics in February 2018 and competed as one team in ice hockey, Mr Kim and Mr Moon announced they will be putting in a joint bid to host the 2032 Summer Olympics.

North Korea cheerleading squad 'army of beauties' at the Winter Olympics

A joint team won its first gold together last month in the 500m women's dragon boating race at the Asian Games held in Jakarta, Indonesia.

Seoul, South Korea, hosted the 1988 Summer Olympics.

A railway connection

Mr Moon ran his presidential campaign in 2017 on a “sunshine policy” with the North, a way to improve relations by opening economic and trade connections.

A railway system connecting cities across the border could be part of that idea and the pair have agreed to construct one within the next year.

They may have to contend with opposition from the US-led United Nations military command, which just last month halted a feasibility study looking to build a rail line running from Seoul, across North Korea, and ending in Sinuiju - a city on the border with China.

The multi-country military group is a hangover from the Korean War in the 1950s and controls movement across the Demilitarised Zone (DMZ) border area separating the Koreas.

Ending military drills

Mr Moon and Mr Kim also agreed to end military drills along the DMZ which are aimed at each other, by 1 November.

Again, the US may play a role in this decision. Mr Trump had announced after the historic Singapore summit with Mr Kim the US would be ending “war games” in the region with South Korea.

However, by 28 August Defence Secretary James Mattis said the drills would not be ended.

The DMZ may actually be a bit more de-militarised

The pair agreed to remove 11 guard posts along the heavily fortified border crossing as a sign of increasing trust.

Opening up trade and tourism

The two Korean leaders also agreed to open up and operate the Kaesong Industrial Complex, a collaborative economic development zone which had been closed off from South Korea in 2016.