The agreements still require approval from the International Olympic Committee, but they are prominent steps toward rapprochement.
North Korea has a history of provoking and then pursuing dialogue with rivals Seoul and Washington in an attempt to win concessions.
The thaw comes amid regional tensions over North Korean nuclear ambitions and ahead of President Trump’s visit to South Korea and China next week.
Military experts view Pyongyang's recent remarks as tit-for-tat responses to Donald Trump's hardening stance against Kim Jong Un's nuclear weapons program.
Global power is being shifted by Sino-Russian rapprochement, a development largely caused by American actions.
North Korean leader Kim Jong Un has responded to the US flying two stealth bombers over the Korean peninsula with bellicose declarations that "the time has come to settle accounts with the U imperialists in view of the prevailing situation" by "physical means".
During what he apparently thought was a private huddle with his Russian counterpart at a nuclear summit meeting in Seoul, South Korea, President Barack Obama was caught in a hot-mic moment, giving Dmitry Medvedev an election-year pointer on the delicate subject of missile defense.
The sinking of the South Korean warship Cheonan back in March was "an unacceptable provocation by North Korea," according to U.S. Secretary of State Hillary Clinton, who declared Wednesday in Seoul that "the international community has a responsibility and a duty to respond."