N Korea cancels talks with South Korea and warns US

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While Singapore's tight control over political activities and media has drawn criticism, it's also what makes the country an ideal location for a high-security event like the Trump-Kim summit.

This picture from North Korea's official Korean Central News Agency (KCNA) taken and released on 1 January, 2018 shows North Korean leader Kim Jong-Un delivering a New Year's speech at an undisclosed location.

A South Korean business executive in Singapore also said he and other overseas Korean businesspeople have huge expectations for the North Korea-U.S. summit due to potential future business opportunities. According to Japanese newspaper Asahi Shimbun, the North has resisted a request by the United States to relocate thousands of North Korean nuclear engineers-a move to assure the North can not restart nuclear development in the future.

To strengthen diplomatic contact a North Korean delegation reached Beijing on Monday. Some analysts question whether the dismantling of the site is aimed at destroying evidence.

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"The South and North will hold a high-level inter-Korea meeting on May 16 in the Peace House in Panmunjom, to discuss implementation of "Panmunjom Declaration for Peace, Prosperity and Unification of the Korean Peninsula", the Unification Ministry said in a statement.

South Korea, which brokered the planned talks between Trump and Kim, says Kim has genuine interested in dealing away his nuclear weapons in return for economic benefits.

Pyongyang for decades has been pushing a concept of "denuclearization" that bears no resemblance to the American definition, vowing to pursue nuclear development unless Washington removes its troops and the nuclear umbrella defending South Korea and Japan.