"Chairman Kim has the chance to seize an incredible future for his people. Anyone can make war—only the most courageous can make peace," Trump said.

The two leaders were smiling just before signing a historic document.

The key phrase in the agreement is that in exchange for security guarantees, Kim reaffirms his commitment to the denuclearization of the Korean Peninsula.

"We have a historic meeting and decided to leave the past behind and we are about to sign a historic document," Kim said.

The accord establishes new US-North Korea relations building towards a lasting, stable peace.

It allows the US to recover POW/MIA remains from the Korean War.

Trump said the US will cut back on its military exercises with South Korea but will not withdraw any American forces.

"We're not reducing anything," Trump said. "At some point, I want to get our soldiers out, get them back home, but not right now."

Trump also said human rights were part of the discussion, including the treatment of Christians, who face brutal persecution in North Korea.

"Christians, yes," said Trump. "Franklin Graham spends a tremendous amount of time in North Korea and things will be happening."

Trump spoke movingly of American college student Otto Warmbier, who spent a year in a North Korean prison and died days after returning home to the US.

"Otto is someone who did not die in vain. He had a lot to do with us being here today," said Trump.

It's hard to believe that months ago both countries were ready for war, with Trump threatening "fire and fury" against the rogue regime.

The sanctions on North Korea will not be lifted until progress toward denuclearization is verified.

"The world will see a major change," Kim vowed. "I would like to express my gratitude to President Trump."

Trump called Kim a worthy negotiator and plans to invite him to the White House in the near future.

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