North Korea agreed to participate in PyeongChang after Games' host South Korea and the International Olympic Committee encouraged the reclusive, heavily-sanctioned state to participate as a gesture of peace.
Moon's visit is highly possible, if South Korea and the United States downscale their military exercises, while DPRK agrees to freeze its nuclear program and stop testing missiles, he added.
Mr Pence confirmed that the US and South Korea had agreed on the terms of further diplomatic engagement with North Korea, first with Seoul before potentially leading to direct talks with Washington.
Clad in coordinated outfits of red with white and blue accents, North Korea's throng of more than 200 cheerleaders are stealing the spotlight at the 23rd Winter Olympic Games in South Korea as they chant, sway and dance in unison.
North Korean women's hockey player Hwang Chung-gum and South Korean bobsleigh pilot Won Yun-jong both clutched the flag pole in a noteworthy display of unity.
The invitation was made by Kim Yo Jong, the younger sister of North Korean leader Kim Jong Un, during a historic meeting between North and South Korean officials at Seoul's presidential palace Saturday, presidential spokesman Kim Eui-kyeom said. When asked what exact steps North Korea would have to take to get sanctions relief, he said: "I don't know".
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Moon and Kim Yo Jong had their first face-to-face encounter at the opening ceremony.
The sight of North and South Koreans marching together for the first time in a decade was the culmination of months of work by Seoul.
In December, US Secretary of State Rex Tillerson's offered to start talks with North Korea without pre-conditions, but the State Department later said there would first have to be a "period of calm" in which Pyongyang suspends testing before any negotiations could begin.
"We're going to continue to put all the pressure to bear economically and diplomatically, while preserving all of our military options to see that that happens", Pence said.
The two Koreas have a rocky and sometimes violent history at the Blue House.
On Saturday, Kim Yo-jong "courteously" handed over a personal letter from the North Korean leader to Mr. Moon and told him of her brother's "intention", North Korea's state news agency KCNA said, without elaborating what that was.
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She donned a red and white colored saree by Sabyasachi which she teamed with a black blouse. Ranveer has, however, preferred to keep the amount the same as what Deepika charges.