Seoul's Defense Ministry says inter-Korean military talks will be arranged once the size of the North Korean delegation to the PyeongChang Winter Olympics is confirmed.
The IOC is scheduled to host South and North Korea to discuss the matter in Lausanne, Switzerland on Saturday of next week.
Bach is supposed to be joined by a delegation from the PyeongChang 2018 Organising Committee and delegations from the National Olympic Committees of both Koreas.
"I warmly welcome the joint proposals by the governments of the ROK (Republic of Korea) and DPRK (Democratic People's Republic of Korea), which have been applauded by so many other governments worldwide", said Bach in the statement.
The penalties that came into force on Sept. 5 last year banned countries from buying coal, iron ore, lead, lead ore and seafood from North Korea.
This week's talks took place amid a standoff over Pyongyang's nuclear and missile programmes but after North Korean leader Kim Jong Un said in a New Year's Day speech that he was "open to dialogue" with Seoul.
Dubbed the "army of beauties" in South Korea, the young North Korean women - mostly in their late teens or early 20s - have attracted huge publicity whenever they have been sent to South Korea.
But some analysts now say that despite the hermit state's achievements and the defiance of its propaganda, Trump's chest-thumping provoked real fears within the North's elites, pushing them to seek ways to dial down tension. How could the South accept that reality, the Chosun Ilbo newspaper asked in an editorial Wednesday, having secured the Games "through tearful efforts after two failures".
The White House said Trump told Moon the United States was willing to talk to North Korea "at the appropriate time and under the right circumstances".
The IOC said the meeting will involve the PyeongChang Olympics organizing committee, leaders of the national Olympic bodies for the two Koreas and other high-ranking government officials.
The Koreas fielded joint teams at the 1991 World Table Tennis Championships and the 1991 FIFA World Youth Championship.
U.N. Secretary-General Antonio Guterres is welcoming progress during talks between the two Koreas, especially their agreement to work to ease military tensions, hold military-to-military talks and to reopen a military hotline.
The women's hockey roster is set at 23. "It will fulfil our desires for a peace Olympics".
Senior State Department official Steve Goldstein says the U.S.is encouraged North Korea is sending athletes and supporters to the Games.
At the he raised the prospect the US would "totally destroy" North Korea, prompting Kim to respond with a personal pledge to "surely and definitely tame the mentally deranged US dotard with fire".
In spite of the hopeful words about the potential for future talks, the U.S. intelligence assessment of North Korea´s weapons programs has not altered, officials say.
China would not attend and was resolutely opposed to it, its foreign ministry spokesman Lu Kang said.
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