Park's comments came during a meeting with U.S. Secretary of State John Kerry, Yonhap News Agency reported.
"President Park said [South Korea] is working to build up mutual trust and realize joint development if North Korea accepts change and comes forward to dialogue," presidential spokeswoman Kim Haing said in a statement.
Kerry said the United States would support South Korea deal with any threats from the North
On Thursday, Park said she intends to "talk with North Korea" about humanitarian assistance for the North regardless of political and security tensions.
"If North Korea comes forward on the right path, we will also activate the Korean Peninsula trust process and build up peace on the Korean Peninsula and in Northeast Asia," Park said during a meeting with NATO Secretary-General Anders Fogh Rasmussen, said Park's foreign press spokeswoman, Lee Mi-yon.
"My thinking is to seek a virtuous cycle through the Korean Peninsula peace process," Park said.
Park's comments come amid escalated tensions involving North Korea. The North has made several war threats over new U.N. sanctions for Pyongyang's nuclear test.