US President Donald Trump on Thursday said that Washington has signed a "new and very, very large" trade deal with Seoul.

In a video posted by The Hill, Trump, flanked by South Korean President Moon Jae-in and first ladies of both the countries, said, "We have recently completed a new and very, very large trade deal with South Korea and it will very much increase trade both ways."

"It is a very important transaction and is something we have been working on from quite a while... Big difference," the US President added.

The 72-year-old leader made these remarks after a meeting with his South Korean counterpart, who is on a two-day state visit to the US.

Moon, arrived in on Wednesday to discuss the second US-North Korea summit in Vietnam, which ended in a stalemate. It is the first face-to-face meeting between the two leaders after the failed Hanoi Summit.

During the meeting, Trump has asserted that he wanted to retain the sanctions imposed on North Korea while he worked towards getting the denuclearisation talks back on track with North Korean leader Kim Jong-un.

It is widely speculated that Moon is expected to participate in the proposed third US-North Korea summit, along with Trump and Kim, in order to keep the denuclearisation talks on track and to chalk out a peace deal to end the over six-decades-long Korean War.

Technically, North and South Korea remain at war as no peace agreement has been signed between them. The two nations had signed an armistice pact which brought about a complete cessation of hostilities from the two sides.

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