"The participants will be a delegation from the PyeongChang 2018 Organising Committee and delegations from the (Olympic committees) of the Republic of Korea and the Democratic People's Republic of Korea (North Korea), all led by their respective presidents, as well as high-ranking government officials and the IOC members in both countries," the IOC said.
"The meeting will have to take a series of essential decisions, including the number and names of athletes and officials from the NOC of the DPRK, since all the deadlines for registration have already passed.
The news followed a meeting earlier Wednesday between Olympic chief Thomas Bach and North Korea's IOC member Chang Ung on the practicalities of sending athletes to Pyeongchang.
"I warmly welcome the joint proposals by the governments of the ROK and DPRK, which have been applauded by so many other governments worldwide," Bach said after the four-way meeting was announced.
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"This is a great step forward in the Olympic spirit and in the spirit of the Olympic Truce Resolution passed by the General Assembly of the United Nations. Now the IOC must take the decisions to make this political commitment a reality."
Bach and Chang's talks broached the question of whether the North Korean athletes would be housed in the Olympic village.
"It's an issue up for debate, but their presence in the Olympic village is not certain," a source close to the talks told AFP.
Only two athletes from the North, figure skaters Ryom Tae-ok and Kim Ju-sik, have so far qualified for the Games, but they were not registered before the October 30 deadline.
The IOC is working closely with the FIS and ISU to "see if North Korean athletes training overseas can take part in the Olympics", according to another source.
After consultation with the federations, the North Korean national Olympic committee will send the IOC a definitive list of the athletes it wants present in Pyeongchang, with the latter left with the task of issuing an official invitation.
Despite boycotting in 1988 and seeing no athletes qualifying for the Sochi Winter Olympics in Russia, North Korea had a presence at the Asian Games in Incheon, South Korea, in 2014 and were also present at the 2016 Rio Olympics, finishing 34th in the medal table.