Foreign Minister Winston Peters says the news North and South Korea want to end their war is cause for serious celebration - so long as their commitment is seen through.
The two countries' presidents have met and signed an agreement to work towards peace and denuclearise the Korean peninsula.
The reality was that there had been decades of conflict between the countries, and others, Mr Peters said.
New Zealand was involved in talks in 2007 when a peace deal was attempted.
"Prospects then looked good, but the North Koreans walked away from it. In 2018 one hopes that they're in for the long haul."
He hoped the North would continue to build trust with the South, and the international community, through ongoing talks.
New Zealand would do all it could to support the peace process, and a long term outcome would be to have economic engagement with North Korea, he said.
"To send them back to glorified isolation with nothing, would not be a sound way of progressing the change in the minds of North Koreans."