The NKs want a treaty. So does POTUS. (In my opinion.)
What the NK guys will come to, as you discuss the matter....is the US physically leaving South Korea (all 37,000 troops). And I suspect that SK will go into a fit as this topic comes up....but it is a fair question to ask.
Perhaps the Trump angle to this is that upon signing...the US would take the first step and remove 2,000 troops, and upon Senate approval (likely to take two years)...maybe a schedule will start up with 10,000 troops per year leaving.
Naturally, what I’d do is open up a deployment of these 37,000 to Alaska and Fort Lewis (Washington state). If you needed to redeploy them...you could have them all back in SK in a matter of a couple of days.
Since the “Korean Conflict” was a United Nations undertaking, and the truce/ceasefire was a UN decision, can the US even make a treaty with NK? We were never at war with them.