US President Donald Trump (left) and North Korea leader Kim Jong-Un.
But Trump appeared to be unaware of that agreement, and interpreted the "Libyan model" to mean the 2011 North Atlantic Treaty Organisation intervention in Libya in support of an insurrection, which ultimately led to Gaddafi's murder at the hands of rebels in Tripoli.
"(The) world knows too well that our country is neither Libya nor Iraq which have met miserable fate", he said in apparent reference to the demises of Gaddafi and Iraq's former president Saddam Hussein.
"He [Mr Kim] would be there, he would be running his country".
On Tuesday, the KCNA informed that North Korea's authorities revoked negotiations with Seoul that were scheduled for May 16, because of the Max Thunder joint military exercises between the United States and South Korea that had started on May 11.
Cancellation of the summit, the first between USA and North Korean leaders, would deal a major blow to what could be the biggest diplomatic achievement of Trump's presidency, one his supporters have suggested would be worthy of a Nobel Peace Prize.
North Korea took "a resolute step" to postpone the north-south high-level talks indefinitely until the South Korean authorities "take a responsible measure, and notified it to them and made this public through a KCNA report", he said. "We don't think that we are in a situation that can not be improved", Back Hye-ryun, a spokeswoman at the DP, said. Now that model would take place if we don't make a deal, most likely.
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Speaking at an Oval Office meeting with NATO Secretary-General, Jens Stoltenberg, Trump also said he would not discuss USA troop levels in South Korea during his meeting with Kim.
"We are going to do everything we can to come to a successful meeting, but we are not going to back away from the objective of that meeting which is complete, verifiable and irreversible denuclearisation of North Korea", he said.
Pyongyang suspended inter-Korean talks on Wednesday to protest a two-week-long large-scale US-South Korean air drill which will last until May 25.
The US President issued the threat at the White House when he was asked about the recent suggestion by his National Security Adviser John Bolton that the "Libyan model" be a template for dealing with North Korea at a summit between Trump and Kim planned for June 12 in Singapore.
The inflammatory comments came at a time when the June summit is in doubt.
"All the confrontation rackets kicked up by them have had something in common with the nature of the conservative regime which had been engaged in inciting hostility and division in the past", said the North Korean official in charge of several rounds of inter-korean talks at Panmunjom.
Kim Kye Gwan said North Korea would never give up its nuclear program in exchange for trade with the United States.