The Barack Obama administration would be willing to hold bilateral talks with North Korea and will soon announce plans, Yonhap news agency reported Saturday, citing a senior U.S. State Department official.

"I think the announcement will come before (President Obama's departure of Asian trip early next week)," said the official, asking anonymity. "I think it may be this weekend."

The official, however, said the trip to Pyongyang by Stephen Bosworth, U.S. special representative for North Korea policy, will not take place before Obama returns from his Asian trip, which falls on Nov. 19.

Bosworth said on Thursday that he expects the U.S. government will "soon" make a decision on his trip to Pyongyang, but predicted it would come later possibly "within a few weeks."

Speculation has been mounting that the U.S. point man on North Korea will fly to Pyongyang late this year or early next year to strike a breakthrough in the talks involving the two Koreas, the U.S., China, Japan and Russia.